ING Independent Networking Group - Newsletter

ING Networking - The Independent Networking Group

www.ingnetworking.org
Phone: 818.991.6293
Email: info@ingnetworking.org

Phone: 818.991.6293

Email: info@ingnetworking.org

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Text Box: Courtesy of Jack Dvir, Financial Advisor, Edward Jones Whenever you see people enjoying a comfortable retirement — traveling, volunteering, pursuing hobbies, taking up a new career — you can be pretty sure it didn’t happen by accident. In fact, success at retirement is similar to success in just about any endeavor — you have to prepare for it. Of course, your strategy could take many different forms. But, as you get close to retirement, you might find it easier to organize your efforts if you ask yourself these five key questions: Where am I today? Shortly before you retire, make a detailed list of your financial assets, such as your bank accounts, investments, IRA, 401(k), etc. You may want to consider consolidating as many of these accounts as you can with just one company. This consolidation will help you get a clearer picture of your overall situation, and it may even help you reduce maintenance fees and make it easier to calculate required minimum distributions (RMDs) you might have to take once you reach age 70-1/2. On the “flip side,” you’ll want to list all your obligations — mortgages, home equity credit lines, car loans and other debts. How much income will I need to enjoy the retirement lifestyle I’ve envisioned? You’ll probably need between 80 percent and 100 percent of your pre-retirement income to maintain your standard of living in retirement. But this is a general rule; your actual needs will depend on what you want to do during retirement. For instance, if you want to travel extensively, you might need more income than if you choose to stay close to home, volunteering and pursuing hobbies. In any case, try to estimate your annual expenses during retirement, knowing that your plans may change later. How much can I withdraw each year? Your investment portfolio is likely to account for a good percentage of your retirement income. Consequently, you’ll want to work with your financial advisor to determine how much you can take out each year without running out of money. The percentage you withdraw each year will depend on several factors, including your portfolio’s rate of return, the age at which you start taking Social Security and the size of the distributions from your 401(k) or other employer-sponsored retirement plan. What portfolio and lifestyle adjustments do I need to make? Once you’ve determined how much you can realistically withdraw each year, you may need to rebalance your investments to get the right proportion of equities and fixed income. You also might look beyond your portfolio to see what lifestyle changes you may need to make. For example, you may decide that you wouldn’t mind working for an additional year or so to take some pressure off your investments as an income source. How can I stay on course? Over time, your goals, health or income needs may change, so you might have to update your withdrawal and investment strategies. At this stage of your life, you’ll want to review your situation with your financial advisor at least once a year. By finding the answers to these questions, you can go a long way toward enjoying the retirement you deserve.

You can be pretty sure that it didn’t happen by accident.

ING NETWORKING

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ING, the Independent Networking Group, is a business networking group that meets in Agoura, CA. We have a great group of businesses including a financial planner, a mortgage broker, a realtor, a chiropractor, a gift service, a long term care insurance specialist, a holistic health business, an insurance agent, a business coach, a family law attorney, an estate law attorney, a car buying service, a bank, an interior designer, a personal assistant service.

If you are looking for a networking group and/or like-minded business owners please look no further than ING Networking. The fee free platform works for all budgets and there are no annual membership fees. There is a one-time $50 initiation fee that goes into a pot to cover small expenses. From then on you pay nothing, but for your meals.

Structured networking without being rigid. There are no fines and penalties associates with lack of referrals or missing meetings. ING Networking is a one business per group so please call ahead to check if there is an open spot.

Business locations to include: Los Angeles County, Santa Barbara County, Ventura County. Coverage includes the Conejo Valley and all of the following cities: Port Hueneme, Oxnard, Ventura, Carpinteria, Santa Barbara, Camarillo, Thousand Oaks, Westlake Village, Agoura Hills, Westhills, Los Angeles, Encino, Sherman Oaks, Reseda, Hollywood and Malibu.