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Does Your Retirement Math Add Up?

Posted September 4, 2018  |   Topics: Retirement Planning

Americans are living longer, healthier, and more active lives than ever. That means saving for a longer retirement is critical.

Everyone has different circumstances. Fortunately, a diverse array of options is available to address your individual needs and aspirations. A skilled financial consultant can help you navigate these options and assess their suitability for your unique situation.

Answers start with questions

How would you like to live? When should you retire? How much should you save? Start thinking about retirement by assessing what you think you’ll need and what you want. A common rule of thumb estimate is that you’ll need 85% of your pre-retirement annual income when you enter retirement. But there are many factors to consider in determining your savings strategy.

  • At what age do you hope to retire?
  • Will you have mortgage or rent payments?
  • Do you have any significant health concerns?
  • Do you plan to move somewhere that’s either more or less expensive than your current standard of living?
  • How much would you like to spend on hobbies, activities or bucket-list items?
  • Do you anticipate any large expenses between now and retirement, such as buying a home or funding a child’s education?
  • Do you want to leave assets to your children?
Secure Your Financial Future Today

The benefits and limitations of various investment vehicles—such as tax implications, distribution requirements, and the amount of risk entailed— should all be assessed when deciding how to construct your retirement foundation. A MaxWealth financial advisor can help you determine which vehicle or combination of investments is most appropriate for your unique goals and circumstances. Even when investing through your employer, the advice of a financial consultant can be invaluable.

Begin planning today. Yesterday, if possible. MaxWealth Management located at Lake Michigan Credit Union can help you get started with a free, no-obligation appointment. Contact us today at (616) 234-6358 or visit


Securities and Advisory Services offered through LPL Financial, a registered investment advisor. Member FINRA/SIPC. Insurance products offered through LPL Financial or its licensed affiliates.

Not NCUA Insured. No Credit Union Guarantee. May Lose Value.

Lake Michigan Credit Union and MaxWealth Management – Located at Lake Michigan Credit Union are not registered broker/dealers and are not affiliated with LPL Financial. The LPL Financial registered representative associated with this site may only discuss and/or transact securities business with residents of the following states: Colorado, Florida, Ohio, Iowa, Pennsylvania, Kansas, California, Indiana, Michigan

Topics: Retirement Planning