| Allow me, if you will, to offer the following definition | | | | client- retiree to retire financially independent (with |
| of retirement. Retirement is the state of having | | | | the exception of the few high income clients). What |
| separated from one's paycheck-to-paycheck job. The | | | | most financial planners don't tell you is they target a |
| "paycheck-to-paycheck" description is important. The | | | | 20-35% decrease of income to you in retirement. |
| majority of people who retire to incomes lower than | | | | The decrease may be as high as 50%! That's not a |
| their pre-retirement levels are paycheck-to-paycheck | | | | knock on financial planning or financial planners. Most |
| employees. Chances are, since you're reading this | | | | of them are doing the best they can with what they |
| article, you're one of the paycheck-to-paycheck | | | | have to work with. There generally is simply too |
| people. | | | | much month at the end of each paycheck for most |
| Let's say this is you: You've got a decent job, maybe | | | | people. |
| a good one. Most of your paycheck is being eaten up | | | | Herein is the age-old problem: Most people in the |
| by life's necessities, but you manage to put away as | | | | United States of America, I repeat, do not earn |
| much as you can into your 401(k) retirement plan. | | | | enough money to live comfortably during their |
| Retirement is looming in the not-too-distant future, | | | | pre-retirement years and retire comfortably as well. |
| and the prospect for accumulating enough savings or | | | | That means any financial planning you do is being |
| investments that will equal your present income by | | | | done to target a decrease in your living standards by |
| retirement age seems very bleak indeed. Still, you | | | | 20 to 50 % in retirement! |
| get serious about saving for retirement. You might | | | | Remember, you do not have to live on less in |
| even engage the services of a Certified Financial | | | | retirement. No matter where you are right now |
| Planner. Part of your plan is based on maximizing | | | | financially, you can build and enjoy a retirement |
| Social Security benefits. Now what? | | | | lifestyle you desire. Peace. |
| Financial planners rarely, if ever, plan for you, the | | | | |