It’s a question similar to “What do you want to be when you grow up?” In essence, retirement is like a new beginning, so the question must be answered.

Will you be a carefree retiree, taking long walks on the beach?

Will you be watching your grandchildren in retirement?

Will you take an annual cruise in retirement?

Will you live every day as you did before retirement, practical yet enjoyable?

Will you want to work part-time or volunteer more?

Make a Financial Plan that Fits Your Life Today and Tomorrow

More money in the bank means more resources for travel and more time to watch your grandchildren. Those who start saving for retirement in their first job can accumulate six- or seven-figure balances with relatively small contributions.

Talking with a financial planner or investment advisor you will ponder questions and answers like:


There are pretty pictures painted of stereotypes in retirement. But the concerning picture is this — a prediction from Schwartz Center for Economic Policy Analysis says 40% of older workers and their spouses will fall into poverty or near poverty.



Three Steps Away From An Actionable Plan

While the challenges of our financial lives may sometimes make us want to crawl back under the covers, we are each only three steps away from an actionable plan that addresses all those financial and retirement planning thoughts. With a financial plan in place, you can have some peace about your financial life, and you may even find some inspiration to do things you hadn’t even thought of.  At Muhlenkamp, our hometown team of investment advisors suggests these three steps: 

  1. Educate yourself 
  2. Evaluate your current  lifestyle of wants versus needs which leads to determining your spending vs. saving opportunities
  3. Make the necessary adjustments.

Planning for retirement starts with thinking about your retirement goals and how long you have to meet them. Then you need to look at the types of retirement accounts — tax-deferred retirement accounts,  that can help you raise the money to fund your future.


Want to learn more about how to enhance your retirement strategy? Check out our blog on tax-deferred retirement accounts today.