Retirement Planning

Where do you see yourself in retirement?

Whatever your vision, it can help to have a sense of where you’re headed, so you can decide what it will take to get there. Planning for your retirement is an ongoing process, not a one-time event.

Retirement doesn’t just happen.

At Lyons Investment Group, we can help you create a lifetime retirement plan, and then monitor and update the plan so it stays aligned with your retirement goals. A successful plan reflects your current situation, and is flexible enough to accommodate your changing situation

Why plan for retirement?

As a result of technological and medical advances, people are living longer. That means you could be retired for nearly as long as you worked. How will you generate income for that period of time and how much will you need?

Industry professionals predict you will need 80% of your pre-retirement income in order to live comfortably in retirement—more if you plan to travel extensively or hope to leave substantial assets to your heirs. And, you should plan on a retirement of 30 years or more. A solid retirement plan takes into account both the accumulation and the distribution phases and helps you transition when the time is right.

The Distribution Phase

If you are five to ten years from retirement, consider creating a plan for how you will generate a reliable income stream from your accumulated assets and other sources. At this point, you will need to be very detailed about the expenses you will need to cover and how and when you will withdraw money from the various sources of income, such as Social Security, a pension plan if you have one, and any other sources of retirement savings.

What’s your next step?

Retirement planning is an ongoing process. It takes time. It takes patience. It takes strategy. Lyons Investment Group is committed to working with you every step of the way.

The Accumulation Phase

Consider these strategies to help you achieve your goals:
For additional strategies tailored to a particular life stage, see our Lifetime Retirement Planning section.

Consider taking advantage of tax-deferred savings opportunities, such as a 401(k) plan at work or an IRA. note 1
If you have a plan at work, think about participating.
If possible, you may want to contribute at least six percent.
If your employer offers a match, contemplate contributing enough to get the full match.
Consider opening an IRA for additional tax-deferred savings and contribute each year.
Carefully manage debt so you can save as much as possible.
When suitable and appropriate think about using insurance products to protect your family from unexpected events. note 2

Relax. We've got you covered

*Donald R. Lyons offers products and services using the following business names: Lyons Investment Group – insurance and financial services | Ameritas Investment Company, LLC (AIC), Member FINRA/SIPC – securities and investments | Ameritas Advisory Services (AAS) – investment advisory services. AIC and AAS are not affiliated with Lyons Investment Group.

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