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Could You Retire Now?

Could You Retire Now?

Could You Retire Now?

A comfortable and secure retirement is every worker’s dream, yet for many people, thinking about it can be overwhelming.  Retirement is a goal to be relished, and the key is to be prepared.  Answering these questions can help you figure that out.

1. How do you want to spend your retirement?
If you haven’t started to think about it yet, now is the time to figure out how you would like to spend your days in retirement.  Will you be travelling?  Playing golf?  Volunteering your time?  Maybe start your own business?  Having a clear vision will assist in calculating the finances you will need to live comfortably while enjoying your days in retirement.

2. Have you created a retirement plan?
With advances in technology and medicine, Americans are living longer.  According to the Social Security website, the average life expectancy for a man turning 65 today is 83, and for a woman it is 85. This is an optimal time to meet with a Financial Advisor who can assist in building a diversified portfolio designed to help provide for long term growth while keeping pace with inflation.  Do not forget to budget for increasing health care costs.

3. Will you outlive your assets?
Social Security is your first line of defense against outliving your savings as your payments will continue for the rest of your life, however, you may want to consider delaying taking payments until age 70 to receive 76% more than if you collect at age 62.  Paying off your mortgage prior to retiring will eliminate one of your largest monthly bills and allow you to tap into your equity in cases of emergency.  Talk to your Advisor about what percent of your savings you can withdraw annually during retirement.  Disciplined investors may be able to gradually draw down their savings in a way that will likely last as long as they live.

Achieving the dream of a comfortable, secure retirement can be much easier when you plan your finances.  Engage your spouse to envision how you each plan on spending your later years and how you will finance your activities.  Deciding together now will make you both happier in the long run.

For more information, contact The Menashe Morley Group in the Rancho Santa Fe office at 858-381-8113.

Could You Retire Now?
Menashe Morley Group


The Menashe Morley Group, serving the community for over 30 years: David Menashe is a Senior Vice President and Wealth Management Advisor, and Bruce Morley is a First Vice President and Wealth Management Advisor and John Naviaux is a Vice President and Wealth Management Advisor for Merrill Lynch, Pierce, Fenner & Smith Incorporated.

Past performance does not guarantee future results. Investing involves risk, including possible loss of the principal value invested.Merrill Lynch Wealth Management makes available products and services offered by Merrill Lynch, Pierce, Fenner & Smith Incorporated (“MLPF&S”) and other subsidiaries of Bank of America Corporation (“BofA Corp.”) “Merrill Lynch” refers to any company in the Merrill Lynch & Co., Inc., group of companies, which are wholly owned by Bank of America Corporation.  Investment products: Are Not FDIC Insured, Are Not Bank Guaranteed, and May Lose Value © 2014 Bank of America Corporation. All rights reserved.


Photo by Andy Templeton


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