Real Life Retirement™ Services
Still working but planning for retirement withdrawals
- Engage in big retirement-related decisions with your spouse early and discuss over time.
- Have an investing target, like how much to put into a fund each year. It's easier to save that way.
- Preparing to withdraw money also requires planning.
- Dipak has been managing much of his retirement funds, sticking to conservative investments.
- Deciding whether to downsize the family home leads to ongoing discussions with his wife.
While Dipak isn't concerned about retiring anytime soon, he is thinking long-term about his family and the makeup of his funds.
I'm an engineer, I like my job and haven't been thinking about retiring. My "other job" is managing my 401(k) and an IRA. My wife manages her retirement accounts, too. We also have an account we started for our children's education when they were 5 years old. We ended up paying 50% of their college tuition; they paid the rest with scholarships and loans. Now that they are out of school, we have some money left over.
Negotiating divergent retirement expectations.
The biggest concern I have about the next few years is that my investments are all long-term. I'm shifting some assets to more short-term investments because eventually my wife and I would like to be able to withdraw money. I'd also like to downsize our home. However, she wants to keep it for when our children visit. I support this, but we could use the money saved in maintenance and utilities to host family in a rental property. It's something we are still discussing. I know, though, that I can't place a dollar value on the joy that family brings.
Take the Next Step.
Let's talk about the retirement you want.
Call 877-673-7970 for your complimentary retirement consultation.
- Use our retirement calculator to see where you stand today.
We thank Dipak for sharing what worked for him. His words have been edited. The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. Examples provided are for illustrative purposes only and not intended to be predictive of future results.
The types of financial transactions mentioned may not be suitable for everyone. Each investor needs to review a transaction for his or her own particular situation. Data contained here is obtained from what are considered reliable sources; however, its accuracy, completeness, or reliability cannot be guaranteed.
All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Examples provided,
including statistical simulations, are provided for illustrative purposes only and are not intended to imply future results you should expect to see. Past performance is no guarantee of future results.