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What is your picture of retirement?

by Tracy Latona |

What will be different in retirement than what you have now (beside not having to work, of course)? What will your finances look like to support that dream? Too often, many Americans are rudely awakened by reality when they hit retirement.

What if it didn’t have to be that way?

When it comes to retirement, a lot of goals or dreams I hear fall along these lines: “I want to travel!” “I want to RV across America!” “I will have time with my family that I don’t have while I’m working.”

I’ve also had conversations with people that look like this: “Retirement isn’t at all what I thought it would be. I feel so financially stressed.” “I thought I would have my pension, but the company folded,” or, “My pension is not nearly enough or what I was expecting.”

What does a heart-centered financial advisor wish you knew?

Working with a Financial Advisor is one of the best ways to make your retirement goals ACTUALLY come to fruition. Wait…Tracy, aren’t you a financial coach? What’s the difference? A coach is someone who works with you on your behavior with your money. A financial advisor makes your money behave for you. Both are important before, and after that retirement date to make your retirement be what you picture it to be. The mindsets, habits, and behavior you have with your money is just as important as having money in the bank at retirement.

A financial advisor can help you stay the course on your financial journey with your investments, and be a sounding board when things get scary. They are an outside set of eyes that know the ins and outs of the market, can help you decide what’s best for your money, and help your money grow.

While self-investing apps may be a great way for education, they by no means should be your retirement plan. There are tax laws and advantages people may not understand, and can create trouble with the IRS. An advisor can help you keep more of your money with tax sheltered vehicles.

If you are at retirement age and the market is scaring you, please connect with a professional. They can take a 30,000 foot view of your situation, and help you strategize a plan to weather the storm, or create a reality check that will serve in the long run.

Putting away a little bit each month, even if it’s $300/ month, can compound and create huge results in your portfolio. And, it’s NEVER too late to start your journey to financial freedom!

Tracy Latona
Golden Rose Financial Coaching