Planning for Retirement in Your 50s and 60s


By Dana McLaughlin CFP®, RLP®, AAMS®, C(k)P® R


etirement planning can be an anxi- ety-inducing process for many, but it doesn’t have to be that way.


In our 50s and 60s, the mindset is to


save up for retirement. Investments are catered toward appreciation, can handle some volatility, and there is still time to save. Some people know where every penny is; some are not exactly sure what their money is invested in.


It’s often hard to find the time to prop- erly plan for retirement when you’re in the thick of a demanding career. Yet the need to feel secure, comfortable and prepared for the future may be quite overwhelming. This is where a well-rounded approach to retire- ment planning is especially helpful, and even enlightening.


It can be difficult to answer questions such as:


• How are my investments doing? Could they be doing better?


• How much can I draw from my sav- ings?


• How long will my money last?


There’s a reason why these questions are difficult to answer on your own. The process of creating a complete inventory of finances is daunting, and there are many


variables to these questions. However, contrary to popular belief, many people find that retirement planning actually becomes a cathartic exercise that helps to bring clarity to future plans.


One way to have a more enriching and inspiring retirement planning experience is to begin aligning your financial advice, your investments, and planning needs with what is most meaningful to you. An ideal financial planner would guide you in this journey. Look for an advisor with the advanced plan- ning CFP® credential and someone who is held to a fiduciary standard. A fiduciary should offer objective, unbiased finan- cial advice with a focus on your financial wellbeing, putting your needs and interests above everything else. Look for a whole-per- son approach, as opposed to solely working with spreadsheets and budgets, because it’s more than “just numbers,” solid financial planning also involves mapping out dreams to fulfill goals.


A financial planner can help you:


• Identify and articulate what is most meaningful to you and your future


• Organize and analyze your current income, future income, fixed ex- penses, variable expenses, pensions and annual spending


• Estimate how much money you need going forward, and how much your savings and investments may be able to generate


• Assist you in overcoming obstacles, perceived or actual, that may be in the way of reaching your goals


• Simplify your financial life. An extension of financial planning knowledge in your corner can greatly reduce anxiety and uncertainty


• Answer questions and support you during any transitional life phases


Using advanced cash flow analysis, a planner can help you answer lifestyle ques- tions such as:


• Can I buy a second home in a warmer climate?


• What does this do for the longevity of the cash flow?


• What is the probability that I can maintain my current lifestyle and not feel stressed?


Once a solid base of information is built,


it’s amazing what the data can do for you. Estimates and guesswork are eliminated. Stress tests are performed to account for mar- ket fluctuations in good years and bad years. Technology-based programs run the data and provide reports based on variables that could potentially affect your retirement funds.


Not only can this process help allevi- ate fears, but it is very empowering. You can now make decisions feeling mindful, educated and prepared.


Dana McLaughlin CFP®, RLP®, AAMS®, C(k)P®, Managing Partner at TrinityPoint Wealth, located in Milford, CT, provides financial guidance and thoughtful advice that makes a meaningful difference in your life. For information, please visit TrinityPointWealth.com. See ad on page 21.


TrinityPoint Wealth, LLC (“TrinityPoint”) is an SEC registered investment adviser. SEC registra- tion does not constitute an endorsement of TrinityPoint by the SEC nor does it indicate that TrinityPoint has attained a particular level of skill or ability. This material prepared by TrinityPoint is for informational purposes only. It is not intended to serve as a substitute for personalized invest- ment advice or as a recommendation or solicita- tion of any particular security, strategy or invest- ment product. TrinityPoint does not provide tax or legal advice, and nothing contained in these materials should be taken as tax or legal advice.


tsachsmd.com 22 Natural Nutmeg - October 2018


Page 1  |  Page 2  |  Page 3  |  Page 4  |  Page 5  |  Page 6  |  Page 7  |  Page 8  |  Page 9  |  Page 10  |  Page 11  |  Page 12  |  Page 13  |  Page 14  |  Page 15  |  Page 16  |  Page 17  |  Page 18  |  Page 19  |  Page 20  |  Page 21  |  Page 22  |  Page 23  |  Page 24  |  Page 25  |  Page 26  |  Page 27  |  Page 28  |  Page 29  |  Page 30  |  Page 31  |  Page 32  |  Page 33  |  Page 34  |  Page 35  |  Page 36  |  Page 37  |  Page 38  |  Page 39  |  Page 40  |  Page 41  |  Page 42  |  Page 43  |  Page 44