When it comes to your finances, few items are more critical than a sound retirement plan. Of course, coming up with a plan can seem overwhelming. When should I start saving for retirement? How much should I save? How often should I contribute? How should I invest? How much is enough?
These are just a few of the questions people face when planning for their retirement. That’s why Elements Wealth Management is here to help!
Results from a recent survey from the Insured Retirement Institute show that most workers aged 40-65 have not saved enough to bridge the gap between what Social Security will provide and what their savings can generate. 44% of survey respondents aged 40-65 indicated that they would not have enough income to last throughout retirement, while two thirds of those surveyed said they wished they had started saving for retirement earlier and saved more.
Hear about this checkup an Elements location?
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Take the Guesswork out of Retirement
With our new online Retirement Readiness checkup, you’ll answer a few short questions to assess your current retirement plan and identify places where you can improve. The Retirement Readiness checkup takes the guesswork out of retirement planning by analyzing your retirement strategy through the lens of 5 key factors:
- Years from retirement
- Annual income
- Current retirement savings
- Current retirement contributions
- How you invest your retirement savings
The Retirement Readiness checkup processes your individual information to identify where there are opportunities to improve. And remember, small changes can turn into big wins over time. With the power of compound interest, even a modest increase in retirement savings today could potentially translate into a larger nest egg down the road.
This quick online tool is an excellent way to prepare for a more in-depth conversation with a financial advisor. Once you complete the checkup, advisors can quickly see where there are gaps in an individual plan and leverage their expertise to help set you on the right path.
Use the Retirement Readiness checkup to gain insight from knowledge and take control of your retirement plan.