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LOS ANGELES Retirement Planning

Feel clear & confident about your financial future
Using our 4-Step Prosperity Planning Process, we help women plan for their future, preserve wealth, and protect their legacy.   

PLAN OUT YOUR RETIREMENT

During your working years, you probably saved a lot of money. You have accumulated enough funds that you are comfortable leaving a large portion of your portfolio in the stock market. As you get older, you may want to be more conservative with your investments, as you will not have as much time to recover from a sharp drop. However, as you approach retirement, you will have more money and can continue to hold a majority of your assets in stocks. You can still keep a portion of your portfolio in stocks, as long as you have enough in your account to cover your living expenses.

 

In addition to maximizing your nest egg, you can also invest in a variety of fixed-income securities. These assets will not give you the returns of stocks, but they will give you income. Those who are planning to retire at 65 or later do not have the same concerns about inflation and the cost of living as people who are still working. In addition to investing in fixed-income securities, older investors can also consider less-risky investments, such as bonds and cash.

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Other expenses in your budget during retirement include health care. Although Medicare will provide coverage for most of your medical expenses once you reach 65, there may still be gaps and other expenses that require your attention. The costs of prescriptions, doctor's appointments, and nursing care can eat away at your budget. It's better to plan ahead for such expenses. If possible, make sure you have sufficient savings for emergency expenses, such as medical emergencies.

If you're planning your retirement, you've likely considered the inflation factor. Rising prices mean fewer dollars to spend and a bigger hole in your retirement savings. The good news is that there are ways to offset this problem. You can plan your retirement with our financial planners in Empress Investment Group. Book your free consultation today!

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