fbpx
Skip to main content
Created: November 7, 2024
Modified: November 6, 2024

Reaching the Retirement Mountain

The journey to and through retirement is like climbing a mountain. Climbers must diligently prepare for every aspect of their voyage – the climb up, reaching the top, and coming back down. You want to approach retirement planning in the same way.

Joel Johnson, CFP® joins Better Money Boston with WCVB Channel 5 to explain how you can reach the retirement summit with a well-thought-out financial plan.

Ascending the Mountain: Building Wealth

For climbers, there is a lot of preparation and discipline that goes into ascending the mountaintop. The same can be said for retirement planning. In those critical years before you retire, you are fully invested in growing your savings and making sacrifices to reach financial independence. If you’ve been a diligent saver, you’ve likely put away funds into a 401(k) or other savings account to accumulate sufficient assets in retirement. Just like climbers who make the trek up the mountain, it can be a steady but sure journey to accomplishing your goals.

Reaching the Peak: Retirement

What happens when you finally reach the coveted peak – aka retirement? When you retire, your life fundamentally changes. Your objectives shift from accumulating savings and growing your wealth to generating income from personal savings, Social Security, and other sources. Achieving that goal requires a carefully planned strategy to provide income for the rest of your life. As you take in the view from the top of the mountain, you could be looking at a 20- to 30-year retirement on the way down. That is decades’ worth of income you’ll need to live comfortably in this new phase of your life.

The Way Down: Distribution Phase

The last thing you want to be worried about once you reach the retirement summit is running out of money, but the work is far from over. It may come as a surprise, but most tragic climbing incidents happen on the way down the mountain, not up. Mistakes can be amplified on the descent if you’re not careful, especially within your investment portfolio. A solid investment strategy is key to navigating market volatility and maintaining a dependable stream of income that will last as long as you do.

How to Protect Yourself

While it can be treacherous at times, there are ways to protect yourself as you make this climb. A financial advisor can help you create a personalized financial plan and subsequent investment portfolio that serves you throughout your retirement years. Having a financial plan can also provide reassurance during times of market volatility and prevent a quick reaction from derailing all the progress you’ve made.

Information presented in our podcasts is considered current as of the created date. Over time, some information presented may become stale. We recommend you consult with your Financial Professional before making any changes based on information contained here.

Johnson Brunetti is a marketing name for the businesses of JB Capital and JN Financial.

Investment Advisory Services offered through JB Capital, LLC. Insurance Products offered through JN Financial, LLC.
The guarantees provided by any type of insurance contract are based on the claims-paying ability of the insurance company.

Resources by Topic

Subscribe to Our YouTube Channel

Share

Related Resources

  • The Right Order to Build Your Financial House

    You wouldn’t design a house that leaves you exposed to outside elements, so why do the same when building your financial house? A well-constructed house first and foremost needs a strong foundatio…
  • Identity Theft: What to Do If Your Identity Is Stolen

    In the digital age, the threat of identity theft is at an all-time high. Sophisticated cybercrime tactics and schemes have left us more vulnerable to online scams than ever before. So, what can…
  • Don’t Let Taxes Derail Your Financial Plan

    A retirement plan that doesn’t consider the impact of taxes can only get you so far. Implementing tax-efficient strategies early on is critical to lowering your lifetime tax liability. After all, …
  • Estate Planning Must Haves

    Estate planning can be a time-consuming and overwhelming process, but it’s a crucial step in securing your family’s financial future and cementing your legacy. By working closely with an estate pl…
  • The Road to Retirement – Don’t Go it Alone

    Achieving the retirement you’ve always dreamed of often requires careful planning. While the do-it-yourself approach may be difficult to shake, consider the benefits of seeking professional advice…
  • Am I Carrying Too Much Debt in Retirement?

    At any stage in life, debt can interfere with your financial goals. But what about when you retire? How much debt is too much? It depends on a variety of factors, including your income relative to…
  • What Updates Can We Expect for Social Security in 2025?

    A new year means new rules for retirement plans. Let’s start with one of the largest sources of income for millions of retirees: Social Security. What changes can we expect in 2025? Heath Gross…
  • Getting It All Together for Retirement

    After a long, fulfilling career, the time has come to embrace the next chapter. You may have envisioned the age at which you’d retire since you began working, but it’s important to distinguish bet…
  • Key Questions for Planning Your Retirement Income

    Replacing your income in retirement is a significant undertaking that raises many important questions and requires careful planning. First and foremost, it’s essential to have a retirement income …
  • Health Care Expenses in Retirement

    Of all the expenses to expect in retirement, health care often makes up a significant portion of your costs. Monthly premiums, out-of-pocket expenses, and services not covered by Medicare can quic…
    Back to top
    Our Locations
    Johnson Brunetti
    Welcome to Our New Website!
    Everything was designed with you in mind, making our retirement planning resources more easily accessible to you.
    Check out your new resource center, where everything can be organized by article type or topic
    Are you ready to speak with a financial advisor?
    Skip to content