Joel Johnson, CFP® and Kara Sundlun talk about retirement planning on this episode of Better Money on WFSB Channel 3.
You are responsible for your own retirement. Most companies have shifted away from pension plans because they are too expensive, so our retirement planning is now up to us.
Most private employers offer 401(k)s, sometimes with a very generous match to take advantage of. For example, some require their employees to contribute 6% to receive a 3.5% match.
Changes made to Social Security are important to keep track of and are made yearly. For example, the change in the full retirement age, which was revised during the Reagan Administration, was increased to 67 from 65.
You cannot live off Social Security alone, so be sure to have a retirement income plan in place.
One of the reasons the full retirement age was extended to 67 is because of the increase in life expectancy. You can expect to be in retirement up to 30 years. Think about the money you might need when you are 90; do not go crazy with spending when you first retire because you don’t know if you’ll need that money in the future.
“We always felt our financial needs were in very capable hands. Alex Angst is great to work with. Our advisor always made us feel he had our best interests at heart and explained things so we could understand them.”
“We’ve been clients of Johnson-Brunetti for > 10 years. We’re enjoying a comfortable retirement as a result. Many thanks to Joel and our CFP, Eric Hogarth. I wish we had plugged into this decade approach back when we were in our 30s.”
“Working with Johnson Brunetti has had a positive impact on my life by providing me with the knowledge, confidence, and peace of mind to move forward with my retirement plans. The process of getting to this point, through their guidance, has been informative and pleasurable.”
“I view your company as one that puts my interests first. I think that is very uncommon and very refreshing. “
“Matt does an awesome job! So easy to understand and he listens to our concerns and addresses them! happy I chose your firm!”
“I have been pleased with the help and service I have received from the company. I have met several team members on Eric’s team and have found all of them very well prepared to meet with me when reviewing my portfolio. I always feel that I am an important customer and appreciate that very much. I hope the firm continues to focus on the customer and maintains its great service. I think you do a great job for someone like me!!!! I’m happy I chose your firm!”
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