At Lewis Brown we are professional independent financial advisors and have served clients in the Dallas-Fort Worth area for almost two decades. Our only priority is our client’s financial well-being, now and in retirement.
We provide an honest assessment of your unique financial situation and explain the options that are available for the level of investment to your risk tolerance, and your time requirements.
Planning for retirement is not easy, and for many Americans it represents uncertainty. The Employee Benefit Research Institute found in its 2015 annual Retirement Confidence Survey that almost two thirds of American workers, “feel they are behind schedule when it comes to planning and saving for retirement.” Less than half say they or their spouse has attempted to estimate just how much they will need to save for a comfortable retirement.
The factors we use to determine if you are on track:
• At what age do you plan to retire? The younger you are when you retire, the longer your retirement will be, and the more money you'll need to cover retirement expenses.
• What is your life expectancy? The longer you live, the more years of retirement expenses you'll have to plan to fund.
• How much of a return on investment can you expect from your savings and investments now and during retirement?
• How much will your estimated annual retirement expenses be?
• Will earnings from your saving and investments cover your retirement expenses?
• Or will there be a gap?
When Americans consider medical costs or the ability to afford long-term care, just 18 percent of Americans feel they could afford their medical expenses in retirement, with only 14 percent believing they could afford long-term care if the need arose.
It is good to be concerned, and ask yourself, “How much should I save for retirement?” It is better to know what you will need for your future and what you can do to plan and achieve your retirement goals.
Lewis Brown can help. We will work with you to create your individualized retirement income strategy that fits your life and integrates savings, a retirement pension, insurance and other possible sources of income. Note that many investments may involve the risk of loss of principal.