Knowing whether or not your retirement plan is solid enough feels highly subjective but it’s important to consider what your own retirement might look like and whether or not you have the right pillars in place.
Verify that your retirement structure has all of your basis covered to get peace of mind and to incorporate this into your bigger conversation around estate planning. There are so many different aspects that go into planning for retirement that it can feel overwhelming and difficult figuring out where to start. Having an existing blueprint or plan will make this process easier by covering all of the major areas you need to evaluate.
Planning for retirement is a lot like thinking about a firm foundation. You need to have the core components all properly constructed in the event of an outside disaster. Your blueprint could be discussed directly with an experienced estate planning lawyer who can help you determine what your foundation and walls look like for your retirement architecture.
Make sure that you have thought about protecting your principal and safe assets, a retirement plan that is designed for income and growth and have looked at growth-oriented equity investments.
Don’t think of your retirement plan as isolated from other aspects of your future planning, such as your estate or elder law documents. All of these are connected and must be able to work together if and when the need arises.
Having a team of professional advisors to guide you through the process of evaluating your current retirement plan can be an important first step in protecting your interests and ensuring that you have thought carefully about your own future. Schedule a consultation with an experienced estate planning lawyer today to discover how your retirement plan and your estate plan work together.