Identifying Your Retirement Goals

1943

Without goals we lack focus, and without focus we’re much less likely to succeed. That’s certainly true when it comes to planning for retirement. The idea of identifying your retirement goals can seem daunting, and it’s often why many people fail to do it. Regardless of how scary it may seem, setting goals is an important first step toward achieving retirement success.

A good place to start is to identify when you plan to retire. For many, 65 is a realistic retirement age. That’s when Medicare benefits start, and you can also begin to collect Social Security. However, it would be at a slightly reduced rate compared to waiting until full retirement age, which is somewhere between 66 and 67 for most people.

Once you’ve determined when you want to retire, you’ll be ready to identify your specific retirement goals. For example, do you plan to stay where you are or move? If you’re considering several places, try to narrow it down – especially if the cost of living would differ greatly in one choice compared to another.

Next, take the time to visualize what your day-to-day life will be like in retirement. What specific activities will make you happy and fulfilled? Playing golf, fishing, going out to dinner several times a week? Do your goals include traveling? If so, where to and how often? Don’t worry too much about how feasible it might be. If it’s something you really want to do, make it a goal and write it down.

Finally, consider if you’ll want to make a major purchase when you retire, like a vacation home or a boat. If so, include it as one of your goals.

Now congratulate yourself, because you have specific retirement goals! The next step is to work on identifying a financial strategy that can help you achieve those goals. If you are like most, it will likely be a strategy focused on generating steady streams of income that can cover all those fun activities you have planned for retirement.

Stay Informed about the Financial Issues that Matter Most to You

Enter you information in the form to receive our blog and periodic email updates about how recent developments in the financial markets could impact your ability to save for the retirement you’ve always envisioned.

Name(Required)

Schedule A Complimentary Consultation

Virtual Meetings Available

STRIDE Financial is a full-service financial firm dedicated to helping those in the Chicago, Illinois area meet their long-term financial goals. Our team of financial advisors and wealth managers are experienced in helping clients preserve their savings, so they can use it as a source of steady income in retirement.

Copyright © 2022 STRIDE Financial. All Rights Reserved.

STRIDE Financial is a full service financial services brokerage specializing in comprehensive, holistic financial planning, and offers a complete line of financial services and products for families and businesses - including retirement planning, college planning, estate planning, business planning, life insurance; annuities; health insurance; property and casualty insurance; long term care insurance; disability insurance; and investment advisory services. This presentation is for informational purposes only and is not intended to be a solicitation, offering, or recommendation of any security. Although this presentation may include investment-related information or opinions from its presenters, you should not consider anything you find in this presentation to be a recommendation that you buy, sell, hold or otherwise invest in an individual security, or any other investment or asset. This presentation does not intend to provide investment, tax, or legal advice. Investment Advisory services are offered by STRIDE Investments, LLC. Additionally, STRIDE Investments does not represent that any securities, products or services discussed in this presentation are suitable or appropriate for all investors. 

A franchise of The Retirement Income Store.

Newsletter
Signup for our newsletter to get updates information, news & insight.
Name(Required)

Copyright © 2022 STRIDE Financial. All Rights Reserved.

Investment Advisory Services offered through Sound Income Strategies, LLC, an SEC Registered Investment Advisory Firm. STRIDE Financial and Sound Income Strategies, LLC are not associated entities. STRIDE Financial is a franchisee of The Retirement Income Store®, LLC. The Retirement Income Store®, LLC and Sound Income Strategies, LLC are associated entities.

A franchise of The Retirement Income Store.