Insight from Anson - Planning for Travel in Retirement?
We all dream of those golden years when we are retired and can travel the world with our significant other and check off all those bucket list items that weren't quite possible with a job and kids at home. But how do you make sure there are enough funds to cover these dreams?
Retirement planning isn't just about 401(k) plans and Social Security Benefits. Those are incredibly important things to consider when estimating how much you'll need to support yourselves in the post-retirement years. But as you sit down to begin planning your retirement, answering a couple of basic questions will help you decide the type of life you want to live after you stop working.
1. How costly a lifestyle do I want to lead or will be able to lead? Lavish, economical?
2. Do I currently have any medical conditions that I know will be costly later in life?
3. Do I want to continue living in my current house or will I want to move to another residence?
4. Do I wish to travel after my retirement?
5. Do I want to have money to set aside for my family?
It's hard as a young, healthy, working parent with small children at home to begin answering some of these questions. So much will change in the years to come. However, setting up a long term financial plan that you monitor and re-evaluate every year will help you to start saving early for those retirement years and possibly allow the flexibility and breathing room needed to budget in the cost of those world travels when you are older and ready to take them. If you don't currently have a financial plan down in writing, we highly encourage you to consider doing so. We're always here to help if you need it.
The Month Ahead:
A look at some important dates or events for this month as well as some free resources
June 1 - National Doughnut Day
June 14 - Flag Day
June 17 - Father's Day
Free Resources:
With Father's Day coming up on June 17, here is a gift guide we found for that special father in your life.
June 30 is the last day to file the Free Application for Federal Student Aid (FAFSA) to get federal loans and grants for your future college student.
Speaking of travel, here are some of the places we're going this summer:
Kristin is taking two of her girls out to Seattle to explore the Pacific Northwest
Niki is heading to the lake to get in some waterskiing and see how many times she can throw her husband and kids off the tube.
Sam is heading to the beach with Kathryn and the girls to get in some quality family time
We're happy to help.
We exist to help investors. Let us know how we can serve you.
Anson Analytics, Inc.
160 Greencastle Road, Suite C
Atlanta, GA 30290
