Retirement distribution planning is not what it used to be. People are living longer, cost of living expenses are on the rise, and healthcare costs are easily outpacing wage increases and the market. Now, more than ever, creating and sticking to a thorough retirement savings plan is necessary to ensure that your latter years and legacy are what you intend them to be.
The majority of people save for retirement without a consistent written plan. This unfocused technique toward saving can lead to increased anxiety, unmet expectations, and unfortunate surprises down the road. The simple act of putting a plan down in writing helps to define your financial goals and lay a path that includes benchmarks toward success.
But we would argue that beyond just having a plan for savings, those retirees that manage their assets with distribution planning in mind will be best prepared for the retirement they imagine. Putting money in will only get you half way. It’s how and when you take the money out that can make or break your later years.