Retirement Planning

The way Rorik approaches retirement is about more than just having enough money; he plans so that your years of financial independence are as fulfilling as you’ve dreamed of them being. By implementing Rorik’s suggestions you can remain independent long after leaving the workforce. Rorik believes that financial planning is an ongoing process during retirement to adjust to ebbs and flows of life. What a better time to enjoy financial peace during than during your precious retirement years.

Chicago fiduciary

Rorik’s 5 Steps to Retirement Planning

1. Determining Current Spending - Regardless of which camp you lie in, it is important to understand what your actual expenses and costs of living are now.

2. Creating Vision of Retirement Lifestyle - The whole purpose of investing in retirement is to create the life you want–be it traveling, more time with grand kids, sitting by a lake, or working off a bucket list

3. Portfolio Allocation - I look at number of factors about your ability to handle the risk. Often other factors play a role such as supporting a boomerang kid, special needs person in the family or elderly relative. Sometimes the client might have enough income from pensions/social security and not need to access the portfolio for day to day expenses in retirement. These kinds of factors all indicate a need to personalizing the allocation to your situation.

4. Creating Cash Flow or Lifetime Salary© - This has become increasingly tricky process for clients as most do not have pensions in today’s world. They must figure a way to access their pot of money to supplement guaranteed payments such as Social Security.

5. Enjoy Life - Having a solid plan that generates cash flow while not having to worry about the wild market swings creates a peace around money that few enjoy.

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