The Mindset Shift Required For Retirement Planning
Did you know that 1 in 5 Americans spends more time planning their annual two-week vacation than they do planning their 20+ year retirement?
Americans need to shift their mindset if they want to enjoy a successful retirement.
What does that mean?
During most of our working years when we're focused on accumulating assets, we don't have a lot of the traps and pitfalls that we face in retirement.
The market going up and down doesn't have as much of an impact when we're growing assets as it does when we start taking out our assets and using them as income to live on.
So when we start getting into a retirement conversation, we need to focus on clarity:
1. Clarity about our expenses2. Clarity about our assets3. Clarity about filling our "income gap"
The shift we need to make is from an "accumulation-saving-building assets for retirement" mindset to...
...how do we plan to take the assets we've accumulated so we can live out a long retirement without running out of money while having peace of mind?
#financialplanning #RetirementPlanning