Investing for retirement doesn’t have to be a complicated process. All you have to do is determine how much you’ll need and then develop a plan to achieve your goal. Simple enough, right? That’s why we’re here to explain and simplify the process.

Begin by considering the lifestyle you envision in retirement. Generally individuals need roughly 70% – 80% of their current annual income to maintain their quality of life throughout retirement. This not only includes your personal savings but also includes sources such as Social Security. However, it’s probably wise to conclude that your personal savings will provide you with your primary source of income.

When setting your retirement goal, there are three main points to consider:

• time and energy are life’s most valuable commodities, so spend your time and energy focusing on what you can control (how much to save and where to invest it)
• create a plan which aligns you with your retirement goals
• monitor your plan and make adjustments as necessary

Retirement planning is a long-term fluid process, neither beginning nor ending with retirement. It requires careful planning and diligent saving during the accumulation phase, and a rigorous understanding of the unique risks retirees face in the distribution phase.

At JPG Wealth we are here to help you every step of the way, from helping you articulate your goals to formulating and monitoring your plan making adjustments when necessary all the way through the distribution phase.