Planning for Retirement Income - Founders Forum

As retirement approaches, thinking of using the money you have worked so hard to save for many years is scary!?? Studies indicate people are likely to need 60% to 80% of their final working year?s income to support their current lifestyle after retiring,? but often low income as well as high income retirees may need closer to 90%.? Today?s retirees have fewer pensions, and all of us understand the ever-increasing stresses on Social Security.? These factors mean that all retirees must rely more on their personal savings and investments.? Doing some preliminary planning can ease the transition and improve your understanding and outlook.

Tapping your retirement assets is easier than you think.? Most new retirees rollover their retirement savings accumulated in their corporate retirement plans into a traditional IRA and begin to receive a ?paycheck? each month or as needed.? Because these funds were saved in tax-deferred accounts, the distribution is taxable, and taxes can be withheld depending on your projected income.? Understanding how much you can safely withdraw to meet your goals is critical to making your money last as long as you do and dependent upon the type of investment you choose.

Your financial consultant at Founders Investment Services is prepared to help you with comprehensive planning when you sense retirement looming on the horizon.? He/she will help you plan for your retirement income within the context of your values and goals as well as your risk tolerance.? Understanding your unique situation is foundational to guiding you to making wise decisions for the short and long term.??? Meeting with us to review your current investments provides a good opportunity to start the retirement planning process.

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Securities and investment advisory services offered through Financial Network Investment Corporation, member SIPC - Founders Federal Credit Union, Founders Financial Group, LLC and Founders Insurance Services are not affiliated with Financial Network Investment Corporation. Financial Network Registered Sales Branches are located at 607 N. Main Street, Lancaster, SC 29720; 1290 Old Springdale Road, Rock Hill, SC 29730; 100 Springcrest Drive, Fort Mill, SC 29715; 1307 Boiling Springs Road, Spartanburg, SC 29303.

Not NCUA Insured - No Credit Union Guarantee - May Lose Value - Not Deposits - Not Insured by any Federal Government Agency.

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This article was written by Kristen Davis Rhyne, CFP with?Founders Investment Services Team.

It was published in the Founders FCU's Open Exchange Newsletter?(April 2012).

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