Many people look forward to retirement and start making plans for it at a young age. A lot of millennials are focusing on the concept of passive income in order to retire young. Establishing retirement income objectives and the resources required to meet them is a part of retirement planning. Identification of income sources, estimation of expenses, implementation of a savings plan, and management of assets and risk are all components of retirement planning. 6 Elements of a “Financial Flight Plan” |
Destination Retirement & Beyond | Ryan Wheless & Matt Stevenson | Ep. 23 1. Risk Tolerance Assessment - Risk tolerance is the degree of risk that an investor is willing to endure given the volatility in the value of an investment. 2. Risk Capacity – How much could you afford to lose today and still maintain your standard of living 3. Investment Plan & Portfolio X-Ray –
We design a plan that matches your risk capacity 4. Income and Spending Plan - After estimating your retirement costs, the next step is to try to identify where your money will likely come from. Most of us will have several sources of income in retirement, but we need to figure out your specific situation and how we can manage those sources.
