What is Your Retirement Number?

Retirement planning is a difficult task.  It’s easy to think about what you want to do in retirement:  go golfing, play with the grandkids, travel to some place warm.  At Integrity Advisory, we take your wishes, wants and needs and create your personalized plan for retirement using our financial planning software.  We’ll tell you how long your money is going to last and the percentage likelihood that you can fund all your retirement goals.

Best of all, this retirement picture updates daily as your portfolio shifts with the market.  Most retirement plans are presented to you in a nice binder, but it’s obsolete in six months.  With our software, you can track your progress online in a safe and secure location.  Most importantly, you can see your progress toward your retirement goals.

Another significant impact of having a retirement plan is seeing how this plan impacts your investment mix.  As we design portfolios for our clients, we understand that we cannot control performance, but we can control risk.  The more risk you are willing or need to take the more opportunity you have for higher returns.  Higher risk also allows for the opportunity for significant losses.  As an example, if we review your retirement plan and you need 5% per year to fund all your retirement goals then your portfolio should not have the risk profile of a portfolio trying to get 8 or 10% per year.

On the reverse side, if your emotional makeup does not allow you to take risk, but you need 8% per year to fund your retirement goals, then we need to have a serious conversation about cutting retirement expenses or increasing your willingness to take risk. 

At Integrity Advisory, we quarterback these conversations and help you feel comfortable about your retirement preparedness.  As a fee-only advisory firm, we place our client’s interest first in everything we do.  If you do not feel prepared for retirement or have not taken the time to calculate your retirement number, then call us today for a free consultation at 913-897-2074.  We look forward to hearing from you.

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