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What's Your Number?

Posted on Monday, May 15, 2017 in Financial Management & Trust Services

Have you thought about your “Retirement Number”? Whether you’re contemplating retiring this year, in ten years or more, there are several key factors that are important to consider at each life stage when determining a retirement fund goal. At First Point Wealth Management, our team of experts is here to listen, understand your goals and build a financial plan, customized for you and designed to help you determine your “NUMBER.” Our goal is to help you achieve financial peace of mind.


First Point Wealth Management offers:

  • Customized Team Approach
  • Specialized Financial Planning
  • Retirement Income Planning

Retirement Planning Checklist

(5 Years or Less until Retirement)

Retirement Planning Checklist

(1 Year or Less until Retirement)

Discuss any retirement plan you may have with your spouse or partner. Review your retirement budget.
Meet with a financial advisor, CPA and/or attorney to discuss retirement goals. Re-evaluate your sources of income, including your retirement plan distribution options.
Prepare a retirement budget and make sure it’s realistic considering inflation. Review the adequacy of your investment portfolio; Can you still retire in one year?
Compile pension, 401k and benefits information from your current and former employers. Choose your retirement date.
Consider consolidating your retirement assets, including former employers’ retirement plans or IRAs. Begin the necessary paperwork for any retirement benefits in your place of employment.
Determine whether you may need additional coverage for health care or long-term care. Consider consolidating retirement assets accumulated with former employers, various IRAs and eventually your current employer’s retirement plan.
Check your projected income in comparison to your projected expenses. Make any necessary changes to your asset allocation strategy.
Assess the adequacy of your investment portfolio. What’s your “retirement number?” If you will need any additional health care or long-term care insurance, now is the time to obtain it.
Increase your retirement plan contributions if necessary. Contact the Social Security Administration to apply for benefits ...three months prior to the date you want payments to begin...
If you resources allow, make catch-up contributions to your employer-sponsored retirement plan or IRA. Three months prior to your 65th birthday, sign up for Medicare.
Consider inflation.

Contact us today to schedule a complimentary consultation.

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