Getting to retirement can be relatively easy, but making sure you don’t run out of money is a much more complex problem. By performing an income gap analysis with a GenWealth Financial Advisor, you can assess whether or not you will have the required income you need each month to meet basic needs.
Of course, we all dream of enjoying our retirement not just existing in it. This is why we look at desired income in addition to required income. The amount of desired income for each retiree depends on the size of your ideal retirement.
Whatever size your retirement is, we believe it should be filled with purpose, because if there is one thing we’ve learned from helping people retire, it is that people need to retire to something and not just from something
Once your required and desired analysis is complete, deeper planning begins. We want to be sure your personal retirement plan gives you regular, predictable and dependable income to meet your daily needs – like your paycheck did. We also need to look at strategies for addressing the many risks that are unique to retirees like how to pay for healthcare and safeguards to protect your assets from being depleted while you are still living the life you’ve designed. Your plan should also include leaving a legacy for loved ones, if you so desire.