Summerlin Benefits Consulting Q&AAnswer
Oct 18, 2024 - 10:05 AM
To avoid procrastination and solidify your retirement plan today, consider these steps:
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Assess Your Situation: Evaluate your current financial status, including any stray 401(k)s or IRAs. If you have a 401(k) from a previous employer, take control of it by rolling it over to a new plan.
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Create a Financial Plan: Determine when you want to retire and ensure you have a plan for your income. Consider options like Fixed Index Annuities (FIAs) to protect your savings from market volatility while still allowing for growth.
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Adjust Risk Exposure: Follow the "Rule of 100" to gauge your risk tolerance, adjusting your portfolio to align with your age and retirement timeline.
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Start Early, Plan Wisely: If you're in your 40s or 50s, prioritize consistent contributions to your retirement accounts. If you're closer to retirement, focus on strategies that balance growth with safety.
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Seek Professional Guidance: Reach out to financial experts, like those at Summerlin Benefits Consulting, for a no-obligation review of your retirement strategy and to alleviate planning stress.
By taking these steps, you can feel more confident and prepared as you approach retirement.
