Charlotte, NC (PRWEB) February 08, 2014
Hobart Financial Group, a leading retirement planning firm, unveils four ways to lessen the burden of planning for retirement.
According to a February 3rd NASDAQ article titled “4 Ways to Transition Into Retirement,” most experts recommend easing out of work rather than just retiring right away. Planning for retirement can seem like a long, drawn- out procedure, but it’s necessary to ensure a comfortable future. While the article says retirement planning doesn’t always guarantee a “dream retirement,” it can definitely help individuals and couples financially prepare for the rest of their lives. The article suggests that workers nearing the retirement age should begin to transition out of the workplace five to 10 years before they actually want to retire.
Hobart Financial Group CEO Chris Hobart says the transition from work to retirement doesn’t have to be hard. Through active retirement planning, workers can leave the workplace more confidently. Hobart offers four tips to make retirement planning easier.
- Consult a registered investment advisor (RIA). “Investing is a great way to supplement your retirement income,” Hobart says. “Consulting with an RIA is a great way to gain insight into other investment opportunities that can generate dependable income during retirement.”
- Calculate expected and emergency expenses during retirement. “The most important thing to do before retiring is to calculate how much money you will need to sustain your lifestyle when you stop working,” he says. “You need to estimate your yearly spending, while also considering emergency expenses for health care problems or other accidents.”
- Consider your Social Security strategy. “Sometimes waiting to claim Social Security benefits can actually be more beneficial than claiming it when you enter the retirement age,” he says. “It’s important to plan out when you will withdraw from Social Security and use that to leverage your retirement income.”
- Test the waters before retiring. “After calculating how much money you will be spending annually during retirement, test out living with that yearly amount,” Hobart says. “By testing it out, people can determine whether or not they need to cut costs at home or generate more income before they retire.”
Hobart Financial Group is an independent financial advisory firm dedicated to personalizing service with uncompromising integrity. Its focus on comprehensive, tax-advantaged plans help to provide sound preservation of capital, growing income and increased returns with reduced risk. Chris Hobart, founder of Hobart Financial Group, understands that true wealth means being able to share your life with the people you love, free from financial anxiety. Hobart Financial helps Carolinas’ retirees preserve and protect their wealth with comprehensive financial retirement planning and wealth management.