Getting Closer: What Does My Retirement Look Like?
It's a new world of retirement and as you move along on your life path, it's time to start seriously thinking about what your retirement will look like. While you're in your peak earnings years, it's important to focus on retirement – even though competing financial priorities like the care of an elderly parent or a child's college education can make it tougher.
Define Your Retirement
With the amazing story of longevity – and millions more people living well into their 80s, 90s or longer, the challenge is achieving the retirement you want – however you define it. With the
BlackRock Define Your Retirement™ tool you can do just that – visualize your retirement.
Are you and your spouse on the same page when it comes to defining retirement? You can quickly find out by going through the Define Your Retirement tool and comparing results. Could be a real eye opener!
With the BlackRock Define Your Retirement tool, you answer questions like:
- How will I spend my time in retirement?
- Where will I live in retirement?
- At what age do I want to retire?
- What will be my basic retirement needs and sources of income?
- What risks could get in the way of reaching my retirement goals?
Once you've defined your retirement, a Personal Summary Profile maps out your objectives, concerns and topics for review with your financial professional. The answers you reach will help you build a personalized plan to anticipate how much annual income you may need to support the lifestyle you want.
A good plan first will identify what is most important – and achievable – for you. It then will help you focus on the financial goals and strategies for saving and investing that can help support the retirement you define. Having a plan to achieve your goals and sticking to it is essential. It is easy to get off track when shorter-term expenses arise, but a good plan can help you achieve your