As you get closer to retirement, you need to be thinking about life after work, and in particular life without that regular paycheck. You might consider hiring financial and tax planners to ensure you are making the most financially advantageous moves for yourself. This is especially true to reduce the taxes you might have to pay (and that FarPlanner’s simplistic tax computation engine might miss) as you withdrawn funds from your retirement accounts.
Alongside your planning experts above though, FarPlanner might still provide a useful forecast of your financial future both before and after your retirement, with the following benefits:
- For funds your plan needs sooner: FarPlanner suggests how much money you might move into your safer investments
- Simultaneously, for funds your plan needs later in retirement: FarPlanner suggests how much you might keep in riskier investments for growth and to better tackle inflation
- Allows you to plan for your retirement years: Now is the time to really think through your retirement plans. Will you sell your home and move to a smaller apartment? Will you travel to see your kids, grand-kids yearly? Take a world cruise? Purchasing a long-term care policy? For whatever you add, FarPlanner can provide a forecast of your finances and suggested risk/safe account transfers within seconds