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Retirement Planning

Maintain Your Lifestyle After Retirement & Continue Building Wealth

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Robert Fortune of
Fortune Advisory

Robert has  worked at major firms such as JPMorgan & HSBC Securities as well as brokerage houses on Wall St. He holds a bachelor's degree in Marketing & Advertising from Baruch College. His daily driving forces are to strive for greatness while living his financial freedom and creating generational wealth for himself and members of the community. Tailored advice for every life stage is the promise. For over 12 years, Robert has worked with individuals, families and businesses to deliver services and solutions that help build, preserve and create wealth

Financial specialists are 3rd party vendors and NOT employees of The Queen BluePrint

Wouldn't it be great to retire comfortably?

Planning for retirement starts with thinking about your retirement goals and how long you have to meet them. Then you need to look at the types of retirement accounts that can help you raise the money to fund your future. As you save that money, you have to invest it to enable it to grow. The surprise last part is taxes: If you’ve received tax deductions over the years for the money you’ve contributed to your retirement accounts, a significant tax bill awaits when you start withdrawing those savings. There are ways to minimize the retirement tax hit while you save for the future—and to continue the process when that day arrives and you actually do retire.

  • Retirement planning should include determining time horizons, estimating expenses, calculating required after-tax returns, assessing risk tolerance, and doing estate planning

  • Start planning for retirement as soon as you can to take advantage of the power of compounding

  • Younger investors can take more risk with their investments, while investors closer to retirement should be more conservative

  • Retirement plans evolve through the years, which means portfolios should be rebalanced and estate plans updated as needed

Fifty percent of us live beyond the life expectancy for the group we belong to. And failure to plan beyond life expectancy creates the Longevity Income Gap. Besides the Longevity Income Gap, which derives from a combination of good news, (living longer and healthier lives) and poor planning (not planning for lifetime income), there are two other income gaps to consider:

  1. Your Total Income Gap: This is the difference between your income goal (designed to cover both your essential living expenses, and your bucket list expenses) and the amount of guaranteed lifetime income you’ve earned during your employment, including Social Security, pension benefits and any deferred compensation

  2. Your Planning Income Gap: The final gap represents the portion of your income goal not met by your planned-for income

excerpts from investopedia.com & kiplinger.com

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