Retirement Planning - Retirement Needs Analysis

According to multiple surveys done on pre-retirees, the #1 concern they all share is whether or not they are doing enough now to meet their retirement needs. As Retirement Strategies specialists we have helped many clients answer this all-important question. Our firm has years of experience counseling pre-retirees on how best to meet their retirement goals.

The first, and perhaps the more difficult, part of our retirement analysis begins with helping clients figure out what their needs (i.e. expenses) will be during retirement. We advise clients to create a budget to more accurately reflect their expenses and provide guidance when needed. Once we have an accurate picture of their expenses, we then gather information about their expected income during retirement. We take an inventory of clients’ sources of income, whether it is from pensions, Social Security or personal savings.

With the data provided, we run a retirement plan to give clients a snapshot of where they are with regards to achieving their retirement goal. Regardless of the results of the run, it then becomes our job to provide recommendations that improve the odds that clients will be able to meet their retirement needs. This could range from affirming their current strategy and encouraging them to continue with it, or recommending increasing savings and changing their retirement date. Ultimately, we see ourselves as a partner who works with clients to make sure they stay on track to meet their goal