Assessing your Retirement Resources
 
 
**(Polaris Advisors, the website, the worksheets and the seminars are not endorsed,reviewed or approved by either Gillette or Procter and Gamble.  Polaris Advisors is an independent Financial Planning Firm, and prospective clients must make their own assessments of the accuracy and validity of the material presented)
 
 
This is the THIRD step in our “12 Steps to Early Retirement” program.
 
If you have not already done so, you should complete the worksheets in step ONE and step TWO.
 
The down-loadable worksheet attached will help you compare the withdrawals you will need to live in Retirement, with the resources (Pension, Social Security and 401k account) that you have.
 
It helps answer the question; “Do you have enough to pay for a year in Retirement, and still put aside the resources to pay for inflation and future years?”
 
Our simple rule of thumb says; if your withdrawals are less than 5% of your Savings, you will likely be able to make it.  If they are more than 7%, you will have to cut back on some items, and/or fore go some cost of living increases.  If it’s more than 10%, you will probably have a tough time of it.
 
Of course, a lot depends on your age, health, when your mortgage pays off, and whether you will sell your home and move to a less expensive area.  So, step FOUR takes this one year assessment and makes it a six year assessment.  We call that a Retirement Income Plan.
 
Step Four will be available in July.  In the meantime, download the step Three worksheet; Assessing your Retirement Resources.
 
"Happiness is knowing when you have enough"
.......Proverb from a Chinese Fortune Cookie
 
 
 
 
* These worksheets alone do not constitute a complete Financial Plan.  Please consider all aspects of your situation with competent tax, financial and legal counsel before making any decision to leave employment.  Polaris Advisors, LLC is not responsible for any use or misuse of these tools by persons who have not contracted with Polaris Advisors LLC for Financial Planning Services.
 
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