New Header for GW

Do you ask yourself, “How much money will I need to retire?”

Understanding how much money you will need to be able to retire can be a daunting task. There are many variable, including things such as lifestyle, debt, life expectancy, health, and more. That is why it is so important to sit down with a retirement planning professional who can assist you in creating a plan of action for the most crucial years of your life.

Everyone has the dream of living their golden years comfortable, but few take the itme to truly plan and prepare for that period of their life. The good news is that a qualified retirement planners can help you achieve the retirement you’re dreaming of! However, before you take that step, here are a few questions to consider,

1. What will be your income from Social Security and/or pension accounts when you retire?

  • You can use a Retirement Estimator tool to calculate your Social Security benefits by visiting
  • Did your current or previous employer offer you an employee pension plan? If so, speak with their benefits department to receive an estimate on what you r future pension benefit may be.

2. How much is in you current retirement savings?

  • Have you invested in a company 401(k), 403(b), IRA, Roth IRA, or some other retirement benefit plan? If so, what is the balance? In order to meet your goals, you may need to contribute more to the account.
  • Do you have money put aside in bank CDs or savings accounts? Do you have an emergency fund?

3. What do you anticipate about taxes, COLA’s, and interest rates in the future?

  • What is the average interest that you believe your investments will earn for you?
  • Do you think that it will be necessary to account for a Cost of Living Adjustment (COLA)?
  • Do you believe that taxes in the future will stay the same, decrease, or increase?

4. What expenses do you have?

  • Are you a homeowner? What is the amount left to pay on your mortgage?
  • Do you possess any other debt such as credit cards, student loans, or vehicle loans?

5. How much supplemental income will you need to sustain yourself in retirement?

  • What is your current household income?
  • What percentage of income do you think you will need to replace to live comfortable in retirement?
  • How much longer do you plan to work until you retire?

Insured Wealth Management Group highly encourages our clients to look over this retirement checklist in order to suggest the best plan of action for your retirement! No two people have the same needs and goals for retirement and it is important to assess your personal financial situation so thatĀ Insured Wealth Management GroupĀ can provide a plan tailor-made just for you!

Contact us today!