John Labunski - How to create the best retirement savings plan?

PLANO, Texas - May 25, 2022 - PRLog -- Creating a retirement savings plan doesn't have to be complicated. The key is to have clear goals and work with an expert financial advisor who understands your needs to achieve your goals.

Pursue new challenges, rediscover old passions, or maybe just enjoy the simple pleasures in life. No matter how you view life in retirement, now is the time to develop a financial plan that makes the most of your resources.

A solid plan will better align your expectations with reality and help ensure your money lasts through your retirement years. Just as you go to the doctor to stay healthy, having an investment professional is a smart way to plan for financial health in retirement.

This retirement plan should be based on your specific needs and goals, which you should clearly communicate to your financial advisor. You can use the following questions to help clarify which retirement plan is right for you.

Important questions about retirement planning

Before you meet with a financial advisor, it helps to know what questions to ask to keep your conversation productive and give you the information you need to make smart decisions.

Here are some questions you can ask:

• When is the best time to retire?
• How do I know that I will receive the amount necessary to live?
• How much money do I need to save each month to reach my financial goals after retirement?
• What happens if I interrupt my savings?
• Are my investments safe even in economic downturns?
• How risky or conservative should my investments be now and in the future?
• How would interest rates affect the growth of my retirement savings?

Update your needs constantly

Over time, your needs, goals, and investments are likely to change, so check and update your plan at least once a year to make sure it still makes sense for you.

You should also check after any major life event, such as marriage, divorce, job change, or loss of a loved one. Regularly rebalancing your investment portfolio will help keep your retirement plan risk stable, regardless of market ups and downs.

We take care of your financial future

Saving for retirement while you take care of other financial priorities can be complicated, however, at John Labunski (https://medium.com/@johnlabunskidallas) our team of financial advisors will help you navigate between the pressures of short and long term goals. Meet them.