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THE RETIREMENT JOURNEY
GETTING FINANCIALLY AND EMOTIONALLY PREPARED
Happy New Year! As we turn the calendar on a new decade, I’m looking forward to the developments this decade will bring. In the next 10 years, we will see Noah head off to his first days of school and grow into a little kid instead of the little baby he is today. The next 10 years could bring about big changes for our Patriot Wealth clients, too. One of the most rewarding things we do is help people uncover their vision for the future. The financial part of your life is just one aspect of this, and we recognize the work we do every day affects your future and your family. We want to help you build a future you look forward to. Do you want to travel? Do you see yourself settling near your children and grandchildren? Are you hoping to write your memoir in retirement? Speaking of retirement, when do you plan to begin this new chapter? In fact, a number of you could be retired by the time we roll into 2030. As we start this new decade, I want to encourage you to take this into strong consideration as you plan for your future, especially as the scope of retirement continues to evolve. Years ago, it was common to practice cold-turkey retiring. Workers would
complete their last shift on Friday, and by the following Monday, they had a clear calendar and nothing to do. Today, workers nearing retirement age are opting for a gradual transition. They start reducing their hours, passing off their responsibilities, and transitioning into consulting roles with their companies before finally letting go of the job. This process is stretched over months and even years. retiring 20 or even 10 years ago. And it stands to reason that it won’t be the same in 2030. But do you know what you would do if you woke up the next morning and didn’t have to go to work? Many people know how the first week or so of their life would look. They would fall asleep without setting an alarm, enjoy breakfast and lunch whenever they wanted, maybe golf or hike more, and do other things they have always wanted to fill their days with when work wasn’t in the way. But there are only so many days you can do this. It may be hard to believe, but you will get tired of playing golf every day. For this reason, and many others, retiring today is not the same as
You can set goals for your golf game. Maybe you want to see a few PGA Tour events, or maybe you want to improve your score through lessons. For nongolfers, maybe it’s finding a club or community organization you can volunteer with. Some people may even want to find seasonal or part-time jobs to fill their days. Whatever it is, find something that’s going to help you fill your vision for retirement. If you’re stumped, we are here to pitch in. Over the course of multiple discussions, our goal is to help you develop a vision for how your retirement will look. We can help you make the decisions that will best serve the goals you have when retirement finally rolls around. We will encourage you to speak with your loved ones about these goals and create a legacy for your family. Beyond the monetary contributions you will leave behind, what do you want to teach your grandchildren? What do you want your family to know once you’re gone? The beginning of a new year — and a new decade — is a great time to ponder your next moves. We’re here to guide you through each step and create a retirement plan that fits into your life.
These articles are designed to provide general information on the subjects covered. They are not, however, intended to provide specific legal or tax advice and cannot be used to avoid tax penalties or to promote, market, or recommend any tax plan or arrangement. Please note that Patriot Wealth and its affiliates do not give legal or tax advice. You are encouraged to consult your tax advisor or attorney. Investment Advisory Services is offered through Retirement Wealth Advisors (RWA), a Registered Investment Advisor. Patriot Wealth and RWA are not affiliated. Investing involves risk, including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values. Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance. Past performance does not guarantee future results. Consult your financial professional before making any investment decision.
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