In describing retirement, we prefer to use the word “liberation”. You separate from the 9 to 5 and enter the next phase of your life. Whether it is travel, spending time with family, embarking on a new career or donating your time and skills to a worthwhile cause, having financial confidence is the challenge facing every retiree. So you need a plan for a lifetime of income. Having enough assets in retirement is important, but more important is the income that the assets produce.
Are we really looking for a “dream” retirement? With the realities of today’s economic environment, most families tell me they just want to be comfortable. Yes, you still may be able to fulfill some of your dreams, but outliving your assets is what we really need to guard against.
Thomas D. Foy, Jr. is a registered representative of and offers securities and investment advisory services through Lincoln Financial Securities Corporation, a broker dealer (Member SIPC) and registered investment advisor. IRIS Financial is not an affiliate of Lincoln Financial Securities Corporation. LFS-3426661-012821
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See Lincoln Financial Securities (LFS’) Form CRS Customer Relationship Summary, available here, for succinct information about the relationships and services LFS offers to retail investors, related fees and costs, specified conflicts of interest, standards of conduct, and disciplinary history, among other things. LFS’ Forms ADV, Part 2A, which describe LFS’ investment advisory services, Regulation Best Interest Disclosure Document, which describes LFS’ broker-dealer services, and other client disclosure documents can be found here.