Getting Ready for Retirement

We have all been through an eventful and tumultuous year so far. A global pandemic has ravaged nations across the globe, and the U.S. has endured an arguably unprecedented economic slowdown. While the economy has shown some signs of improvement as states begin the process of reopening and adapting to the “new normal,” there are still some indicators that tend to suggest that we could be in for some additional volatility down the road, especially if we have to contend with a second wave of the COVID-19 pandemic.

This level of uncertainty might make the process of preparing for retirement an anxiety-inducing exercise. However, the circumstances we face today should not stop you from planning for the future you desire tomorrow. In fact, uncertain times reinforce the importance of formulating a comprehensive retirement plan that takes every possible scenario into consideration and strives to meet your income needs in retirement. The purpose of this guide is to provide you with a retirement readiness roadmap and serve as the foundation of the development of a retirement strategy.

We will also give you a glimpse of some of the strategies the Armstrong Advisory Group’s team of financial advisors utilize to help their clients maintain a standard of living that is consistent with each client’s desired retirement lifestyle. In addition, we will walk you through some of potential retirement pitfalls such as healthcare costs, unanticipated taxes, and estate-planning issues. Our hope is that this guide will provide you with a better understanding of what it means to be ready for retirement. Regardless of whether you plan to retire in five months or five years, it is always a good time to establish a plan.