With over 100 million people in America closing in on retirement, big questions arise. Most investment advisors are oriented toward providing advice on how to build assets, but lack the tools and experience to advise their clients about how to live well during decades of retirement.
The most common advice that retirees get involves invoking the “4% Rule.” That number is based on a 60-year-old-study that may well be out of date. Individuals and families should be getting better guidance because now retirement often spans decades. Many people are retiring earlier and living longer.
There are many critical decisions that must be made before people leave their jobs and live on their savings and a fixed income.
Some Registered Investment Firms (RIAs) have the sophisticated financial planning tools to answer these questions. They are often CFPs® and focus on retirement planning. Once a plan is prepared, these same RIAs, acting as fiduciaries, are often asked to help their clients manage their assets to meet their retirement income goals.
If you are approaching retirement and have questions or concerns, contact us. We’ll be glad to provide you with the answers.
Korving & Company is an investment management, financial advisor, and financial planning firm that specializes in working with retirees, couples who are serious about retirement planning, and women who have recently suffered the loss of a spouse.