Plan For Your Someday

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Plan For Your Someday

• Presented by Richard L. Anderson
• Director, Retirement Plans Division
• Cedar Brook Financial Partners

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Todays Agenda

• Life before retirement
• Life around retirement
• Life after retirement

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Life Before Retirement

• Planning for your someday
• Financially
• Physically
• Emotionally

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PlanningFinancially

• Developing a plan
• A goal without a plan is just a wish.
• Larry Elder
• Plan your work for today and every day, then
  work your plan.
• Margaret Thatcher
• Failing to plan is planning to fail.
• Alan Lakein

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PlanningFinancially

• Developing a plan
• What kind of retirement do I want?
• Finding your future in your past
• 1. Favorite Subject What was your major in
  school? Have you fulfilled the goals you set
  at graduation?
• 2. Best Job What was the best job of your
  life? What did you like most about it?
• 3. Best Year What was the best year of your
  life? Why?
• 4. Best Vacation What was your best vacation?
  Why?

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PlanningFinancially

• 5. Best House Of all the houses you lived in,
  which was your favorite? Why?
• 6. Best Use of Money What product, service,
  gift or investment has given you the greatest
  satisfaction?
• 7. Favorite Activity Of the hobbies, sports
  and activities that youve participated in,
  which was your favorite
• 8. Best Award Which award or accomplishment
  has given you the most pride? Why?
• 9. Best Gift What gift, favor or act of
  kindness you received had the most
  meaning to you?

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PlanningFinancially

• Most important life area for boomers
• Relations with family friends 39
• Religious or spiritual life 24
• Physical health 19
• Personal finances 8
• Mental health 4
• Work or careers 3
• Leisure activities 1

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PlanningFinancially

• How do you divide your time among
• Work (including your career, consulting
  charity)
• Family (including friends and social groups)
• Self (including hobbies, self-improvement
  solitude)

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PlanningFinancially

• Developing a plan
• What expenses will I face in retirement?
• Needs (i.e. Housing, Food, Healthcare, etc.)
• Wants (i.e. Travel, Entertainment, etc.)
• Goals (i.e. 2nd Home, College, RV, etc.)
• Legacy (i.e. Spouse, Family, Charity, etc.)

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PlanningFinancially

• Developing a plan
• How much income will I need?
• Where will the money come from?
• Social Security
• Pension Benefits
• Investments
• Part/Full-Time Work

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PlanningFinancially

• Managing todays resources and expenses through
  budgeting
• Paying down debt
• Maximize savings

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PlanningFinancially

• Managing todays assets and tomorrows
  savings
• Risk Management
• The process of analyzing exposure to risk and
  determining how best to handle such exposure
• Asset Allocation
• Refers to the balancing of different asset
  classes, generally stocks, bonds and cash.

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PlanningFinancially

• Protecting your plan
• Estate planning tools (i.e. will, trusts, etc.)
• Insurance protection
• Health insurance
• Life insurance
• Long term care insurance

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PlanningPhysically

• Staying healthy today so you have more
  tomorrows
• Eating healthy
• Exercising
• Managing your time
• Staying active

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PlanningEmotionally

• Create a vision of how youll spend your time in
  retirement
• Be realistic
• Set manageable expectations

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Life Around Retirement

• Reviewing your plan
• Things to consider close to retirement

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Reviewing Your Plan

• Are you ready financially?
• Review your income sources
• Review your investments
• Review your expenses
• Are you ready emotionally?

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Things to consider

• Applying for Social Security
• Applying for Medicare
• Transitioning your health insurance
• Continue through employer
• Medicare supplement
• Other individual coverage

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Life After Retirement

• What to do with your time
• Managing todays resources and expenses through
  budgeting
• Reviewing your plan regularly
• Leaving a legacy

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What To Do With Your Time

• Travel? Volunteer? Work? Grandkids?
• Can you afford to spend your time that way?

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ManagingThrough Budgeting

• Paying down debt
• Maximize savings

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Reviewing Your Plan Regularly

• Will your income and savings last?
• What unexpected expenses could you face?

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Leaving A Legacy

• What will you pass on to your family?
• Will you make any charitable gifts?

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Conclusion

• Questions?
• Contact information
• Richard L. Anderson
• Director, Retirement Plans Division
• Cedar Brook Financial Partners
• [phone] Phone
• randerson_at_cedarbrookfinancial.com
• www.cedarbrookfinancial.com