Money Matters
Reaching retirement, regardless if it is earlier or later than expected, is what most people want to discuss and plan for. No matter what stage of life you’re in, take some time to think through the process and answer these, as well as other questions.
How will you support yourself and your family?
You need to set a budget, then calculate all your income sources (Social Security, pension, dividend income, 401(k), part-time work).
Do I have enough to set aside for emergencies?
Things happen, such as car and household repairs, or even helping an adult child who might be having some difficulties.
How will I get my healthcare?
Cost of insurance and services continue to rise, so it is important to check out every option you have.
What do you want your retirement to look like?
You need to think about what you want your day to look like, and how and where you will spend your time. Think about what will excite you to get out of bed every morning.
What will your living situation be?
Do you plan to stay in your home, or perhaps move closer to your children and grandchildren? Perhaps you might want to move to the lake, beach, or even downsize.
These are only a few of the questions to be asking yourself. The key is to develop a plan at least two years prior to your expected retirement date, then work your plan.
-Bill Dowell
Vision Financial Group
4505 Pine Tree Circle, Birmingham, AL 35243
205-970-4909, www.vision-financialgroup.com
Investment advisory services offered through Investment Advisors, a division of ProEquities, Inc., a Registered Investment Advisor. Securities offered through ProEquities Inc., a registered broker-dealer and member of FINRA and SIPC. Vision Financial Group, Inc. and West Alabama Bank are independent of ProEquities, Inc. Securities and insurance products offered are not bank deposits, have no bank guarantee, are not FDIC insured, and may lose value.
