Bill Chambers
Professional Coach &
Motivational Speaker

P 1-705-493-5220

BillChambers@StridingToSuccess.com

Preparing your Finances for Retirement

Money matters when it comes to retirement. How much you’ll need, is entirely dependent on your expectations—and how much you have may require you to seriously realign those expectations. Look carefully at your finances and ask yourself some tough questions:

• What streams of income will I have in retirement?
• What debt am I carrying?
• Where do I plan to live?
• Do I have proper health insurance?
• Am I supporting an ageing parent? University-aged children?
• Do I plan to maintain my current lifestyle?

For many - especially those carrying large expenses and debt into retirement - maintaining their lifestyle may not be a realistic option. It’s essential to prepare for the oncoming salary or compensation reduction. Mitigate as much debt as possible ahead of time, and think about how you can smartly downsize. Create an asset allocation strategy and consolidate your streams of income, as much as possible.

Perhaps retirement was just on the horizon when the stock market took a dive–now your retirement dream is more like a mirage. You may need to consider returning to work on a part-time or contract basis. See this as an opportunity to develop a portfolio career or to pursue an area of interest that has always been on the backburner.

To learn more about preparing your finances for retirement, contact us, or register for the Striding to Success Pre-Retirement Boot Camp.