{"id":13107,"date":"2022-03-21T09:24:18","date_gmt":"2022-03-21T14:24:18","guid":{"rendered":"https:\/\/johnsonwim.com\/?p=13107"},"modified":"2022-03-21T09:24:36","modified_gmt":"2022-03-21T14:24:36","slug":"iowa-fiduciary-services-part-6-lifestyle-balance","status":"publish","type":"post","link":"https:\/\/johnsonwim.com\/iowa-fiduciary-services-part-6-lifestyle-balance","title":{"rendered":"Iowa Fiduciary Services Part 6: Lifestyle Balance"},"content":{"rendered":"
Retirement is an opportunity to create a life that truly reflects who you are. Are you ready for a radical shift in your daily life? From financial issues to emotional stability, here’s how creating balance could lead to a healthier and wealthier lifestyle in your retirement years.\u00a0<\/strong><\/p>\n Set money aside for the moment, and think about what will be left in your life once you take work out of the equation. How will you view your identity? Do you have hobbies or volunteer activities to focus on? How often do you get to socialize? Do you have relationships outside of work? Are you fit and active? Balance is an ideal we all strive for but seem to miss. Some of us may be struggling with ways to wind down after the workforce and practice relaxation methods, and perhaps, others have too much leisure time and need to incorporate more productive days into our lives. Of course there is always the concern of running out of money in retirement so many decide to continue working “to be safe”. But at Johnson Wealth and Income Management, we believe retirement is meant to be enjoyed, and dare we say it – stress-free!<\/p>\n Planning for a more secure and balanced retirement requires a little preparation, but it goes a long way. The following information will help you begin to plan for a more financially – and emotionally – stable future.\u00a0<\/span><\/p>\n Why is balance important? Picture a balancing scale, one side of the scale is work and the other side is leisure. When you put more energy into only one side of the scale, that side falls down. Take this collapse of the scale personally, because it\u2019s your life.<\/p>\n It can be hard to keep up with life revisions on your own. That\u2019s why the key to a more healthy financial future is to have a Fiduciary<\/a> to help guide you through the lifelong process that is retirement planning<\/a>. You can start at any time, but it works best if you factor it into your financial planning as early on as possible. That\u2019s the best way to help ensure a safe, secure retirement.\u00a0<\/span><\/p>\n A good place to start is to determine if you would like to:<\/span><\/p>\n You should also consider other plans such as travel, whether you will downsize your home and if you will relocate geographically.<\/span><\/p>\n While determining how much you\u2019ll need for retirement and how to allocate your savings among a defined contribution, the retirement plan\u2019s investment menu will be extremely helpful in enhancing your financial education. Some of the most complex decisions that you\u2019ll have to make involve the full breadth of personal finance issues.<\/a><\/span><\/p>\n An evaluation of your current finances could help you plan for what you will need in the future. By meeting with your trusted advisor, you can begin to:<\/span><\/p>\n Although calculations can be done manually, the use of a Fiduciary financial advisor<\/a> could be super beneficial throughout the process. Additionally, unanticipated life circumstances may require you to change your course. Review your retirement plan with your financial advisor every year or two and revise it as necessary to help you reach your goals.<\/span><\/p>\n Based on your vision for retirement, work with a professional financial planner to decide how much money you will need to set aside and which investment vehicles are best for you. Consider factors such as:<\/span><\/p>\n Create a customized plan that you are comfortable with and that will help you maintain a lifestyle consistent with your retirement plans. Put concrete steps in place to reach your goals and stick with your plan over time.\u00a0<\/span><\/p>\n Why did you retire? Or why do you want to retire? Make a list of your retirement goals: personal, professional, financial, physical needs, and spiritual needs and goals. Then check in on them as you get closer to retirement. The importance of the items in each list will give you a feel for their proportions in your retirement pie and keep you on track to reaching your dream retirement.<\/p>\n Think about whether what you are doing now is going to get you to where you want to go. If not, adjust. Retirement, more than any other period in our lives, should be a time when we are most able to go with the flow and adapt. Whether you’re embarking on a phased retirement or simply stuck in a loophole of where to turn and what to do next, reaching out to your full-service financial advisor can help fill the gaps and get you on your way to the retirement lifestyle you deserve.<\/p>\nEnvision the Lifestyle You Want When You Retire\u00a0<\/b><\/h4>\n
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Review Your Present Financial Situation<\/b><\/h4>\n
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Determine Your Retirement Needs\u00a0<\/b><\/h4>\n
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Keep Your Eye on the Prize\u00a0<\/strong><\/h4>\n
Final Thoughts<\/b><\/h4>\n