Your Financial Strategy
The financial services industry is bursting with ideas on creating a retirement plan, but these recommendations can vary widely based on your age, risk tolerance, bank-account size, access to Social Security or other personal details.
With so many options, how do you know the best strategy for you?
Fisher Investments can help. We work to understand your unique financial situation and investment goals to build an easy-to-understand, comprehensive retirement plan tailored to you. Our retirement planning experts help you build a customized plan and keep you on course to achieve your goals.
See Our Investment Guides
The world of investing can seem like a giant maze. Fisher Investments has developed several informational and educational guides tackling a variety of investing topics.
Your Investment Adviser
Set Your Retirement Goals
Create Your Retirement Plan
Investing for Your Retirement
Investing After Retirement
Your goals may fit one or more of these categories. They may also change as your circumstances and priorities shift. Having a well-designed, adaptable plan is what’s important. Clear and regular communication is crucial for success. Our Investment Counselors provide our clients with ongoing communication and education opportunities to help ensure their portfolios remain focused on their specific goals and priorities.Set Your Goals
After setting your financial goals, the next critical step in retirement planning is determining your investment time horizon—the length of time you need your assets to last. Most people assume their time horizon is the same as their life expectancy, but this approach ignores some important details. For example, if you’re married or in a long-term relationship, you should consider your partner’s time horizon—particularly if your spouse is younger or likely to live longer. Some investors also want to pass some of their wealth to future generations. In those instances, you should factor in the children’s or grandchildren’s time horizons. Every situation is unique and a well-planned retirement accounts for your circumstances.
Another important step in retirement planning is to compile an income and expense report (if you need cash flow from your retirement accounts.) Better understanding your income needs in retirement can help you identify any gaps that may need to be addressed.
Try to incorporate potential tax implications wherever possible. For example, do you have a traditional IRA or a Roth IRA? Both? What other sources of retirement income do you expect to have? Do you have a pension? Social Security? Rental income?
Starting your retirement plan early can increase your chances for success. Don’t fret about getting everything exactly right in the beginning. Projected financial information doesn’t need to be completely accurate early on, but the more data you can incorporate, the more realistic a plan you can make.
Just make sure to review and update your plan regularly. Our experienced Investment Counselors are there to help our clients create and stick to a plan designed to fulfill their financial goals.
Common retirement account types include traditional 401(k)s, Roth 401(k)s, traditional IRAs, Roth IRAs, other defined contribution plans and—to a lesser extent nowadays—defined benefit plans (i.e., pensions). Some investors also choose to purchase annuities with their retirement savings.
Similar to the types of investments you choose, the account types you select, along with their tax treatment, can have big implications. For example, Roth accounts may allow tax-free withdrawals if you meet certain criteria. However, there are contribution limits that can affect how much you’re able to save.
Few investors fully understand the risks and benefits of their investments, what account types they should factor in or how to apply them to a retirement plan. We can help. We help our clients understand what they invest in and which method of retirement savings gives them the best chance of success.Your Investment Options
Many financial “experts” suggest shifting your assets more heavily toward income-producing securities, like bonds, as you get closer to retirement. We believe this guidance is often shortsighted. Investors frequently underestimate how long their assets will need to last in retirement. We help our clients understand other ways to generate retirement income while still achieving the necessary growth for their assets to survive.Approaching Retirement