Retirement! Sounds good, doesn't it? Whatever the word retirement means to you is where we help you begin:
Our conversation revolves around the simple concept of filling in the gap. We use our Retirement Analysis software to compute the following factors:
In the future, there will no longer be a salary – providing you with the ability to replenish funds needed to pay for the events, expenses and desires of life in retirement. So, during the career, we help our clients determine amounts needed to “pay forward” into the future retirement “salary.” Live on less now, so that there is something to live on then. The amount needed to supplement social security, and pensions or other annuities is called the “gap.” Our reports include charts and supporting data tables to provide confidence that enough is being done or will be done along the way to cover the gap.
The notion of a pension is gone for many employees in today’s market. However, for teachers in the state of Maryland, the good news is that you are a part of the state Retirement and Pension system. This system provides you with a "defined benefit" for as long as you live. The amount of your benefit or pension will be based on several factors:1. How long do you plan to work?
2. When did you start to work? (Employees who began prior to January 1, 1980 may be under a different retirement plan)
3. What is your current salary and what do we anticipate your final years’ salary to be?
Whaley Financial Services™
Financial Planning for Your Life
(443) 283-3482 (local) • (443) 283-3914 (fax)