Springtime in Wisconsin

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Springtime in Wisconsin requires next-level planning, just like retirement.
You can enjoy both a lot more when you’re prepared.
So, you check the weather forecast and make your plans. But, you also throw an umbrella and a winter coat in the car, just in case.
That’s the insurance aspect of retirement planning.
Many people cheerfully set aside some of the more cumbersome details of retirement planning because they intend to work well past their full retirement age. They love their jobs, they enjoy their co-workers and they depend on that paycheck to meet their budget.
While the work ethic is admirable, it is also not enough. Just like unexpected snow showers can wreak havoc on your golf game during what had been forecasted to be a lovely spring day in Wisconsin, unplanned shifts can impact your working life.
You may become incapacitated by injury or illness, you might have to step in and care for a spouse, parent, or adult child, you could find your job outsourced or your company sold and your position redundant.
Just like you dress in layers when you head out on an April morning, prepared for sunshine or snow, you can protect your retirement with careful planning.
Have you purchased Long Term Care insurance? Today’s policies provide for far more than nursing home care and they are far less expensive if you can purchase a group plan through your employer.
Are you maxing out your retirement plan options? Beyond your 401(k) or 403(b), are you investing in an individual retirement account? Have you considered a Roth IRA, in which you pay taxes upfront so you can withdraw tax free? Roth’s can be extremely helpful when it comes to meeting your budget in retirement, especially if you end up retiring sooner than you had planned.
Are you meeting the employer match in your 401(k)? Those matches are part of your benefits and, if you don’t take advantage of them, you’re really just leaving your own money on the table. It may not look like a lot of money now, but those employer matches add up and develop the source from which you will need to fund the rest of your life.
Have you worked out what your budget might be in retirement? Take a look at the numbers. You can’t predict everything, and you won’t know what healthcare costs you and your family members might face, but you can make your retirement a lot smoother if you have a good idea of what your monthly expenses will be.
Springtime leads to a golden season just like retirement planning leads to your golden years.
You can enjoy it all with some good planning.
If you have questions about how to get started with your retirement planning, please contact us. With 40 years of experience, we’re always ready to help.