As a holistic financial advisory firm, one of our most important goals is to financially educate our clients. One great way to improve your financial literacy is to ask thoughtful questions that lead you to think about things in a new way, and to learn to think outside the traditional “financial planning” box. Asking questions like these empowers our clients to take control of their financial future and direct their financial plan in the way they want it to go.

In all of our years of doing business, we’ve found there are 4 very important financial questions that every person who is concerned about their future retirement should know the answers to.

Keep in mind that while these are universal questions, they have very individual answers! Your answers to these questions will be completely different from your neighbor’s answers – and perhaps even from your spouse’s.

To test your knowledge - and your retirement preparedness - just do your best to answer each of the following questions. On the surface, they seem to be simple, "yes" or "no" answers, but each question entails a specific aspect of retirement preparedness that you will want to consider carefully:

Question #1. Do you know the rate of return you will need to earn on your savings and investment dollars in order to be able to retire at your current standard of living, and have your money last the rest of your life?

Question #2. Do you know how much money you need to save annually to retire at your current standard of living and have your money last throughout your lifetime?

Question #3. If you keep doing what you’re currently doing (in terms of earning, saving, investing, etc.), do you know how long you will need to work before you can retire and have your money last the rest of your life?

Question #4. If you keep doing what you’re currently doing (in terms of earning, saving, investing, etc.), do you know how much you will have to reduce your standard of living at retirement in order for your money to last you for the rest of your life?

If you cannot answer "Yes" to every question, when would you like to know the answers? Do you think it would be smart to be able to answer them sooner rather than later?

Our experienced retirement planning specialists can help you discover the answers to each of these questions in less than 30 minutes. Contact us today to schedule a free initial strategy session! Simply call 614-300-9498, or fill out our contact form and one of our staff members will reach out to you shortly.

Disclaimer:

The information presented here is for educational purposes only and is not a solicitation for the purchase of any insurance or financial product. The statements and opinions expressed are those of the author and are subject to change at any time. This material has been prepared for informational and educational purposes only. It is not intended to provide, and should not be relied upon for, accounting, legal, tax or investment advice. You should always consult with a financial professional regarding your individual situation before making changes to your current financial or retirement plan.