When talking about savings and investment, there are two life phases. The first is the accumulation phase, this phase is all on growth, as the name implies savings and investing both contribute to growth. Consistency will be aided by automating your donations. During this time, it is advisable to secure as much money as possible for yourself in the future and consider making sound financial decisions about your investment. The purpose of the savings phase is to save as much money as possible for retirement.

When you retire and start drawing money from all your income streams, you now enter the distribution phase. For most, when retirement arrives accumulation slows and they learn to shift their investing strategy to make sure they do not outlive their money. The number one fear of retirees, regardless of the amount of assets they possess, is running out of money. If you're like most people, you probably don't think much about the distribution phase. However, based on decades of experience in financial planning, this phase tends to be more stressful and worrisome than the accumulation phase. The idea of ​​spending money without income can be nervous and raise questions such as:

Did I save enough? What does it mean for me and my family if we outlive our savings?

What are my options if my partner passes away and I lose the extra income that's needed?

How long will my savings last? How much will it take to live if we consider inflation, taxes and the cost of living?

What happens if one or both of us gets sick and/or injured?

For more information on how to create the same or potentially better income contact us today!

When talking about savings and investment, there are two life phase.The first is the accumulation phase, this phase is all on growth, as the name implies savings and investing both contribute to growth. Consistency will be aided by automating your donations. During this time, it is advisable to secure as much money as possible for yourself in the future and consider making sound financial decisions about your investment. The purpose of the savings phase is to save as much money as possible for retirement.

When you retire and start drawing money from all your income streams, you now enter the distribution phase. For most, when retirement arrives accumulation slows and they learn to shift their investing strategy to make sure they do not outlive their money. The number one fear of retirees, regardless of the amount of assets they possess, is running out of money. If you're like most people, you probably don't think much about the distribution phase. However, based on decades of experience in financial planning, this phase tends to be more stressful and worrisome than the accumulation phase. The idea of ​​spending money without income can be nervous and raise questions such as:

Did I save enough?

How long will my savings last?

What happens if one of us gets sick/injured?

For more information on how to create the same or potentially better income contact us today!