Saving for retirement is the number one concern among working Americans. Clients ask us both before and after they retire:
- “Do I have a big enough nest egg to retire?”
- “How much can I afford to spend?”
They also wonder:
- “How many retirement years do I need to plan for?”
- “How will the investment markets behave while I am in retirement?”
No one can be sure of the answer to the second set of questions. However, Sunflower Bank Wealth Management can help improve your confidence in answering the first two through thoughtful retirement planning.
Your Goals Are Our Goals
The first step toward planning effectively for retirement is to take inventory of all your current and pending income sources, including Social Security benefits, pension benefits, existing retirement savings, and other savings or income, even the equity in your home.
We’ll also walk you through a realistic assessment of your expected spending needs. Do you want to travel? Maintain the current lifestyle your current annual income provides? Sell your home and move closer to the grandkids? All these options impact retirement planning.
We can also provide a summary of your social security options. This comparison of the options for claiming your Social Security benefits, includes a break-even analysis for claiming earlier or later than normal retirement age.
Once we understand your situation and short term and long term goals, we’ll put our financial planning expertise to work, applying proven wealth management principles and a disciplined process to develop a personalized retirement plan to match your goals. Your Sunflower Bank Wealth Management plan will incorporate all of your assets and retirement accounts, sources of income, spending needs, lifestyle goals, and personal risk tolerance and risk capacity.
When you reach retirement age, we stay with you, providing guidance on the most efficient way to withdraw funds from your 401(k) plan and other retirement accounts, and keeping an eye on the tax impact. Your Sunflower Bank Wealth Management team works with you throughout retirement, to track any expected or unexpected life changes, and help modify your plan as needed.
If you’re concerned about retirement planning, talk to us. We’ll work with you to prepare a retirement plan to grow your wealth and reach your goals tomorrow, and bring you peace of mind today.
Investment and insurance products are not FDIC-insured, are not a deposit or other obligation of, or guaranteed by the bank or an affiliate of the bank, are not insured by any federal government agency and are subject to investment risks, including possible loss of the principal amount invested.