Planning for Retirement vs. Planning Financially

At some point, you get to a spot where your financial planning might need to shift a little bit.  We believe this is when you begin seeing retirement in your near future. But what does that look like?

Financial Planning is an important part of all of our lives as we go through and enter into different phases. Some of us are very good at financially budgeting ahead for our future, and some are not quite as good.

Regardless of where you fall, it makes sense that we all should do a little financial planning in life if we want to be successful later down the road.

That’s right, but the problem is – most people view Retirement Planning and Financial Planning as essentially the same thing, and they don’t make the necessary shift in thinking.

Retirement planning is completely different today than it was 20 to 30 years ago.

Back then, you did not have to do a whole lot of preparing.  A big reason for this is because of pensions, which many people were fortunate to receive upon retirement.

However today, the majority of workers are retiring without a pension, so they do not have that stable source of income each month coming in to support them. So now, they have to be more proactive and build a game plan that will last throughout their lifetime.

According to Fran Toler, principal of the Toler Financial Group “It’s the difference between people at work versus money at work.”

The “people” at work refers to Financial Planning, while “money” at work refers to Retirement Planning. We want to not only explain to you what retirement planning really means, but we want to give you an example later on of how it could go wrong, if you do not plan correctly for it. There is never a better time than now, so take that first step by reaching out to us!