Retirement Readiness Checklist
R E T I R E M E N T R E A D I N E S S
Preparing for retirement can be daunting, but it doesn’t have to be stressful. Whether you are years away from retirement or right around the corner, the best thing you can do for yourself is to be prepared! Your future self will thank you. Research has shown that starting to prepare for this milestone at least 5 years out leads to a much happier retirement.
1. Estimate how much money you need to retire: Start to develop an accurate picture of how much you are spending vs the amount of income you have each month. Then, decide what kind of lifestyle you want to live in retirement. Will your expenses go up, go down, stay the same? According to the Department of Labor only 40% of Americans have calculated how much they need to save for retirement*.
2. Evaluate your investment choices: Learn about your plan’s investment options and assess what are the best type of investments for your risk level. By diversifying, you are more likely to reduce risk and improve returns. Your investment blend may change over time depending on personal factors such as goals, financial circumstance, and age.
3. Build an emergency fund: Not everything goes according to plan. An emergency fund can protect you from unplanned financial expenses. It can also make up for delays in the start date of your Social Security. Most financial experts recommend an emergency fund of 3-6 months of your expenses.
4. Educate yourself: Your financial advisor is an excellent resources to take advantage of when planning for your retirement. Your dedicated MCF advisor is available to offer guidance or answer any questions you may have about retirement readiness.
For more information, Contact MCF today!
IMPORTANT DISCLOSURE INFORMATION
MCF Advisors, LLC (“MCF”) is an SEC-registered investment adviser. Please remember that past performance may not be indicative of future results. Different types of investments involve varying degrees of risk, and there can be no assurance that the future performance of any specific investment, investment strategy, or product (including the investments and/or investment strategies recommended or undertaken by MCF), or any non-investment related content, made reference to directly or indirectly in this presentation will be profitable, equal any corresponding indicated historical performance level(s), be suitable for your portfolio or individual situation, or prove successful. Due to various factors, including changing market conditions and/or applicable laws, the content may no longer be reflective of current opinions or positions. Moreover, you should not assume that any discussion or information contained in this presentation serves as the receipt of, or as a substitute for, personalized investment advice from MCF. To the extent that a reader has any questions regarding the applicability of any specific issue discussed herein to his/her/its individual situation, he/she/it is encouraged to consult with the professional advisor of his/her/its choosing. MCF is neither a law firm nor a certified public accounting firm and no portion of the presentation content should be construed as legal or accounting advice. A copy of MCF’s current written disclosure statement discussing our advisory services and fees is available upon request. If you are an MCF client, please remember to contact MCF in writing, if there are any changes in your personal/financial situation or investment objectives for the purpose of reviewing / evaluating / revising our previous recommendations and/or services. The scope of the services to be provided depends upon the needs of the client and the terms of the engagement.