Whether you decide to retire early or work longer, the earlier you start planning, the more likely you will be financially prepared for retirement.
Let’s face it, we all want to stop working at some point. Or, if not stop, at least work where and how we want to work, not how someone else wants us to. Most households are in one of three phases with regard to retirement:
This is the phase where you are saving for retirement and paying down mortgages and other debts. Throw in some kids and a little living and before you know it, it’s pretty hard to know how to build for the future most efficiently.
It’s coming, it’s imminent, you know it’s on the horizon and it may be a nebulous, 5 years out or the day circled on the calendar sometime in the next few months but you know it’s coming. This is a key point in planning, all that work is about to pay off – but how?
Income, income, income. You need it steady, stable and reliable. All your hard work has paid off and you are enjoying the fruits of your labours. It isn’t as though you are suddenly blessed with infinite resources though, you still have to live within your means and that income is vital.
No matter where your household is on this spectrum, you need a plan. Having a plan to prepare for, transition to or enjoy your retirement is key.
Contact Worby Wealth Management Regina to get your personalized plan started today.