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