Assume you're looking to retire in the next 15 years and you find that projections show that you are running a shortfall in reaching your retirement goals. Most people assume they will have to save significantly more each month to meet those goals, which would oftentimes lead them toward sacrificing current lifestyle. This new paper posits that you could achieve the same result by retiring two to three years later and not increasing the amount your savings.
As you think about your retirement plans, you should think about a variety of options and outcomes that can set you on a path towards a goal that is attainable for you. Some people may want to save more to retire early, some people may want to balance current lifestyle and saving more, and are more than happy to work an extra year or two to be able to enjoy life along the way. At Impel Wealth Management, we can help you evaluate these choices and put together a plan that allows you to Move Life Forward in a way that makes sense for you and your family.