The Quickest and Easiest Way to Retire

Have you been looking for a quick and early retirement with a plan that stands the test of time? Do you still have a few years left to serve at your current job, yet still wish for an early retirement?  Or have you already completed your tenure at work and wish to retire as quickly as possible If so, it’s time for you to start creating a strategic retirement plan. Randy Becker, Financial and Retirement Planner, and owner of Becker Retirement Group in Bellevue, Washington, can help you create a solid financial strategy so you can enjoy the rest of your life in retirement.

Randall T. Becker : When Should You Retire?

Pensions

Pensions are disappearing in the private work sector. Today, only 15 percent of private sector workers and 75 percent of state and local government workers participate in a traditional pension plan.  According to the U.S. Bureau of Labor Statistics, there are a few options in receiving pension benefits. One is through a series of monthly payments over time and the second is a lump sum paid out all at once.

Saving Enough for the Future

According to Randy Becker, Financial and Retirement Planner, even if you've had a high paying job, managed your income frugally, and have at least one million dollars buried in your retirement accounts, and think you might be able to retire early, you may still be surprised to learn that your numbers don’t add up as expected.

Reevaluating Your Profession

Most people like their chosen occupation. They’ve enjoyed careers as legal advisors, bookkeepers, craftsmen, or entrepreneurs, and they savor the sentimental achievement of a vocation well done. However, if you fear to go to work, detest your co-workers, or detest your supervisor, is that achievement worth the stress and hardship? Regardless of whether or not you can resign from the workforce completely, this might be a great opportunity to reevaluate your profession. It may even be worth taking a lower paying job in a less stressful environment or moving to lower-maintenance work.

Following Your Passions 

If you have ever dreamed of pursuing a particular profession or have long sought to embark on a certain adventure, perhaps early retirement is a great opportunity to finally put those plans in motion, regardless of the budgetary cost.  You have already worked hard toward saving for retirement, and your retirement years are your time to relax and enjoy yourself.

Randall T. Becker truly believes that retirement could be the best time of your life, and with a proper financial planning strategy in place, you will be able to quickly and easily start living your retirement to the fullest.

Is Your Road to Retirement Poorly Mapped Out?

The following is a guest post from Randall T. Becker, a retirement planning professional and owner of the Becker Retirement Group in Bellevue, Washington. He has 30 years of experience in the insurance industry and holds a degree in personal financial planning from Metropolitan State College of Denver.

Can you imagine going on an extended vacation without making any plans?

No websites or tour guides consulted. No hotel reservations made. No itinerary mapped out.

Of course not. If you wanted your vacation to be a success, you’d budget enough money to cover your costs. You’d know when you were going, how long you could stay and at least generally what you would do while there.

But when it comes to the longest vacation most people will ever take – retirement – fewer than half of all Americans have a formal plan. And that can spell trouble.

There’s nothing worse than being 85 years old, full of life, and being flat broke. But it takes some work to avoid the many pitfalls that can ruin your golden years. Inflation, taxes, bad health and bad investments can be devastating.

Develop Your Retirement Plan

It’s up to you to have a sound plan so you can focus on the important aspects of a wonderful retirement life. Here are some tips shared by Randy Becker Financial for getting started so you’ll know you’re ready to begin your retirement journey:

Get Everybody on Board - You and your spouse need to agree on your retirement goals – and the financial decisions that will get you there. Start talking about priorities: Do you want to relocate? Stay close to the grandkids? Are you emotionally and physically ready for retirement? How long will each of you keep working, and how will that affect the income streams you’ll rely on when those paychecks stop?

Make a Budget - Most people think their expenses will go down after they retire, but usually, that doesn’t happen. Your wardrobe budget might go down when you aren’t working, but other expenses might go up if you travel, enjoy new hobbies, or start going out more for dinner, movies, and concerts.

Know Where Your Money will Come From - Most financial professionals agree that income is king when it comes to retirement planning. A pile of scattered paperwork and account statements is not a plan. A good advisor can help you maximize your Social Security benefits, come up with tax-efficient distribution strategy and talk to you about other options, such as annuities, that can guarantee income in retirement. This is vital as people now live 20, 30 or even 40 years after retiring.

Know Your Retirement Timeline and Reevaluate Your Risk Tolerance - One of the biggest mistakes investors nearing retirement make is sticking with the same advisor and portfolio they had when they were younger. You’ll need to move to a more diversified approach, with fewer risks and more protection for that all-important income.

As Per Randall T. Becker, Retirement is about more than money. There’s also the adjustment retirees must make from working every day to suddenly having too much time on their hands.

Source URL: http://retirementsavvy.net/is-your-road-to-retirement-poorly-mapped-out/