Retiree: “I have a gazillion dollars in my retirement savings. Is that enough?”

Several years ago there was a series of commercials for a financial services company where people would walk around with their “retirement number” on their shoulder. While a bit silly and simplistic approach to what folks actually need to retire, there were two important lessons that I took away from the commercials. The first is that everyone had a different number on their shoulder which is very accurate since we all have different lives, goals, and spending habits. And the second lesson was that a large number, or an absurd “number” like a gazillion dollars, does not guarantee a successful retirement.

Financial independence in retirement is not really a matter of how much you have, but rather how much you have in guaranteed income, like pensions and Social Security benefits, plus available resources for additional income, compared to what you will be spending in what could be a very long time in retirement. Some folks find that their retirement years last nearly as long, or in some cases longer, than their working years!

That is why your own “retirement number,” even if it is a gazillion dollars, will not by itself determine how you will fare in your own personal retirement journey.

Do you think you have enough to be comfortable in retirement? We can help you get the peace of mind you need to know if you are financially independent to the point where you can give yourself permission to spend in accordance with your own plan for yourselves and for your legacy goals.

Learn more about the retirement readiness projects offered by Safe Harbor Financial Advisors at www.SafeHarbor.financial or call us at 302-313-6644 or email us at Info@SafeHarborFinancialAdvisors.com. On our website you will learn more about our cash flow approach to retirement income planning with some free downloads to help you assess your own situation.

Let’s face it, a gazillion dollars just isn’t worth what it used to be!

Retirement Tax Issues Lunch & Learn Monday, November 10th. There are still seats available for this free informative program–with pizza!  Details and signup information are at https://www.safeharborfinancialadvisors.com/free-workshop or you can call us to sign up.