Like many Americans, you may have put money into a 401(k), 403b, Roth IRA, or some other investment vehicle with the hope of one day enjoying your retirement. But just saving money for a later date isn't enough. Determining whether or not your plan will allow you a comfortable retirement requires a critical look at several important variables.
Consult a Professional
In a 2006 Employee Benefit Research Institute Retirement Confidence survey, 44 percent of respondents cited "guessing" as their method for calculating their retirement needs. Retirement is too important to rely on arbitrary assumptions—a financial professional should help you with a detailed analysis of your current financial situation and future needs. Choosing a financial professional that focuses their practice on retirement can help you navigate the constantly changing legal and investment landscape. With more than 90 percent of McCarthy & Cox's clientele over the age of 50, we have helped hundreds of families transition to retirement and maintain their financial independence.