In Retirement Cash (Flow) Is King—Part 1 of 4

The Overview.

Ask yourself this question—what is a successful retirement?

Or even better, what is a successful retirement to you?

Defining retirement success has to be done on a personal level. Each of us has our own perspective on what we expect in our retirement journey. There is definitely no one size fits all in retirement planning!

This is the first in a four-part series on one critical aspect of retirement success—how to fund it. In particular, how best to use your savings to provide the funds necessary to pay your expenses as well as your adventure and legacy goals.

When most folks think about retirement finances they associate a number to the question: “Do I/we have enough money to retire?” Or, the more difficult question, “Will I/we run out of money during my/our retirement?”

In this series I will try to guide you to a mindset shift away from thinking about a particular number or amount of retirement savings with respect to having a successful retirement. Instead, we will explore what that number actually means to you in terms of funding your retirement years.

So, what does this look like? Let’s say that you have a Gazillion dollars in savings available to fund your retirement. Is this enough to do that? How will you know? It could be, or maybe you need two Gazillion dollars? Or perhaps three Gazillion? The number itself is not particularly helpful in answering the critical question – do you have enough to fund your retirement? You need to examine more than the savings you have. You also need to determine what you will be spending your money on, and for how long, and what do you want to have left over at the end of your lives, and do you have the funds available if you need a period of long-term care or assisted living, etc.

And this is where a comprehensive look at what your savings can do for you, along with other sources of income, will truly help you answer this question—and hopefully with a positive result! The next article in this series will break this down for you in more detail.

One important point about defining retirement success—your financial picture is just one part of that. Other aspects of a successful retirement are maintaining your health, involvement in the community, spending time with family and friends, enjoying new adventures, and simply living life to the utmost while you can do so. More on financial and non-financial aspects of retirement can be found in my earlier series in the Cape Gazette. https://www.capegazette.com/affiliate-post/top-5-financial-and-non-fina…

While you missed us at the recent Home Show and the Seminar on retirement success held on September 23rd, you can still learn more about what retirement success means to you with a no-cost, no-obligation in-person or virtual meeting to discuss your personal financial situation. You can reach George Reilly by calling 302-313-6644, or emailing Reilly@MARPS401k.com. The Coastal Delaware office of MidAtlantic Wealth Partners is conveniently located at 2400 Coastal Highway in Dewey Beach where we have our own parking lot.

Note: This article is for educational purposes only and does not offer any investment, tax, or other planning advice, nor does it create any advisor-client relationship with a reader of this article.

Securities offered through Kestra Investment Services, LLC (Kestra IS), member FINRA/SIPC. Investment advisory services offered through Kestra Advisory Services, LLC (Kestra AS), an affiliate of Kestra IS. MidAtlantic Wealth Partners is not affiliated with Kestra IS or Kestra AS.

This article is published for residents of the United States only. Registered Representatives of Kestra Investment Services, LLC and Investment Advisor Representatives of Kestra Advisory Services, LLC, may only conduct business with residents of the states and jurisdictions in which they are properly registered. Neither Kestra IS or Kestra AS provides legal or tax advice. For additional information, please contact our Compliance department at 844-5-KESTRA (844-553-7872)