Brian Decker, Owner and Founder of Decker Retirement Planning joined Nicea on ABC4 this afternoon to talk about the basics of retirement planning.
We all know that it can be overwhelming to think about how to plan to have enough income in retirement but everyone can use a little help on where to start.
According to Decker Retirement Planning the first thing you need to figure out is how much you will need in retirement. Their office has tools to help you determine that number but the basic rule of thumb is to plan for needing about 80% of your current monthly income during retirement.
After you’ve been able to figure out what you’ll need in Step 1 you’ll want to move onto Step 2.
There’s a common misconception that if you’ve saved enough, you’ve planned enough but are you sure you’re prepared? Have you planned where your monthly income is coming from? If you haven’t, you run the risk of spending more than you have and potentially running out of money.
It’s important to plan for the unexpected with rising health care costs. Chances are high that most of us will need some sort of long-term care in our later years. Knowing that, we actually make a plan for the unexpected.
For more information about planning for retirement or how Decker Retirement Planning can help you or your family visit their website or call them at (833) 717-3030.
This article contains sponsored content.