Why Your Financial Plan for Retirement Might Be Missing The Lifestyle Factor

Many retirees with substantial savings still feel unprepared for their golden years. This common situation raises an interesting question about retirement readiness. Your retirement consultant in Fresno CA will explore how money in the bank doesn’t guarantee a fulfilling retirement experience.

Why Traditional Retirement Planning Falls Short

The latest data shows that fewer than 50% of Americans have planned for emergency expenses or calculated their needed health expenses in retirement. Many of us face unexpected challenges that our retirement plans haven’t factored in:

Long-term care costs, which Medicare typically doesn’t cover

The effect of inflation on retirement expenses over time

Competing financial priorities like children’s college education

The traditional approach emphasizes investment returns over retirement income. Recent studies show that only about half of retirees say their lifestyle matches what they planned before retiring. This gap between pre-retirement planning and post-retirement reality stems from too much focus on accumulation rather than thinking over how savings will translate to steady income.

Mapping Your Ideal Retirement Lifestyle

Retirement isn’t a single-phase experience. Our spending patterns and lifestyle needs change through different stages of retirement:

Early Phase: Most active years with higher spending

Middle Phase: Moderate activity with reduced expenses

Later Phase: Increased medical needs and related costs

Healthcare costs need careful planning for retirement. To name just one example, a 65-year-old retired couple needs approximately $330,000 in assets for expected healthcare expenses. The numbers show that about 15% of our retirement expenses will go toward healthcare costs each year.

A successful retirement plan starts with understanding your lifestyle goals. The way you want to spend time with grandchildren, take up new hobbies, or travel the world will affect your financial needs.

Aligning Financial Strategies with Lifestyle Goals

Let’s focus on making our financial strategy match these goals now that we’ve mapped our ideal retirement lifestyle. A successful retirement plan needs flexibility. Research shows that only 35% of people plan emotionally for retirement, yet this emotional planning is vital.

Our financial strategy needs these key elements to work:

Regular budget reviews and adjustments

Tax-efficient withdrawal strategies

Healthcare cost planning

Emergency fund maintenance

Quarterly reviews of our financial plan help maintain our desired lifestyle. This monitoring ensures our strategy stays on track with our goals and market conditions. A financial advisor’s expertise proves valuable in creating a long-term plan that balances lifestyle dreams with practical money matters.

Conclusion

We have a strong team of professionals helping ensure you receive all the assistance you need not only in developing your retirement income strategy, but in maintaining it throughout your retirement. Contact us today at 559-230-1648 or visit us today at Soutas Financial to see how we can help you Retire ”Your Way!”

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Investment advisory services offered through Foundations Investment Advisors, LLC, an SEC registered investment adviser. The commentary on this website reflects the personal opinions, viewpoints, and analyses of the author, Soutas Financial, and should not be regarded as a description of advisory services provided by Foundations Investment Advisors, LLC (“Foundations”), or performance returns of any Foundations client. The views reflected in the commentary are subject to change at any time without notice. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security, or any security. Foundations manages its clients’ accounts using a variety of investment techniques and strategies, which are not necessarily discussed in the commentary. Foundations deems reliable any statistical data or information obtained from or prepared by third party sources that is included in any commentary, but in no way guarantees its accuracy or completeness. Alternative/Private investments are often complex, speculative and illiquid investment vehicles that are not suitable for all investors and are typically only available to accredited investors who meet certain minimum financial requirements.  Alternative Investments often engage in leverage and other investment practices that are extremely speculative and involve a high degree of risk. Such practices may increase the volatility of performance and the risk of investment loss, including the loss of the entire amount that is invested.  They are, therefore, intended for experienced and sophisticated long-term investors who can accept such risks.

The post Why Your Financial Plan for Retirement Might Be Missing The Lifestyle Factor appeared first on Soutas Financial.

source https://soutas.com/why-your-financial-plan-for-retirement-might-be-missing-the-lifestyle-factor-2/

The Truth About Retiring Rich That Most Millennials Don’t Know

Many millennials often tell me they won’t get rich without a six-figure salary. Your financial planner in Fresno CA understands that this myth stops many of us from taking those crucial first steps to build real wealth for retirement.

Let me show you proven strategies that’ll help you retire rich, whatever your current income might be. We’ll dive into everything from tech tools to multiple income streams – all the essentials you need to secure your financial future.

The Millennial Wealth Mindset Revolution

Millennials build wealth differently than their parents did. The numbers tell an interesting story – 70% of us already save for retirement, and the median millennial starts at age 22.

71% of us manage retirement accounts through mobile apps

69% of us take control of investments without wealth managers

63% put money in private equity, and 62% invest in cryptocurrency

Leveraging Technology for Wealth Creation

Technology has become our secret weapon to build wealth. I’ve found that the right financial apps and tools can boost our chances of retiring rich. These days, more millennials turn to digital platforms to manage their wealth, and 54% of us use mobile apps to plan our finances.

These are the features I look for in wealth management apps:

Automated portfolio management

Immediate financial tracking

Goal-based planning tools

Robo-advisors have made sophisticated investing strategies available to everyone. The future looks bright as 87% of wealth management firms are putting more money into API technology to boost these services.

Building Multiple Income Streams

I found that getting rich before retirement isn’t about landing one high-paying job. The secret lies in building multiple income streams. Research shows that two-thirds of millennials between 18-35 have already started or plan to start a side hustle among their main jobs.

Many successful millennials broaden their income through these channels:

Digital Products: Creating online courses, ebooks, and templates

Consulting Services: Exploiting professional expertise

Passive Income: Through rental properties and dividend investments

Content Creation: Making money through social media

This strategy works well. Studies show that retirees who get money from multiple sources, especially annuities, use their savings more slowly. My millennial friends keep finding creative ways to make extra money. The numbers back this up – 80% of Gen Z business owners have launched their ventures online.

Conclusion

We have a strong team of professionals helping ensure you receive all the assistance you need not only in developing your retirement income strategy, but in maintaining it throughout your retirement. Contact us today at 559-230-1648 or visit us today at Soutas Financial to see how we can help you Retire ”Your Way!”

Other Related Articles on retirement consultant

Investment advisory services offered through Foundations Investment Advisors, LLC, an SEC registered investment adviser. The commentary on this website reflects the personal opinions, viewpoints, and analyses of the author, Soutas Financial, and should not be regarded as a description of advisory services provided by Foundations Investment Advisors, LLC (“Foundations”), or performance returns of any Foundations client. The views reflected in the commentary are subject to change at any time without notice. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security, or any security. Foundations manages its clients’ accounts using a variety of investment techniques and strategies, which are not necessarily discussed in the commentary. Foundations deems reliable any statistical data or information obtained from or prepared by third party sources that is included in any commentary, but in no way guarantees its accuracy or completeness. Alternative/Private investments are often complex,  speculative and illiquid investment vehicles that are not suitable for all investors and are typically only available to accredited investors who meet certain minimum financial requirements.  Alternative Investments often engage in leverage and other investment practices that are extremely speculative and involve a high degree of risk. Such practices may increase the volatility of performance and the risk of investment loss, including the loss of the entire amount that is invested.  They are, therefore, intended for experienced and sophisticated long-term investors who can accept such risks.

The post The Truth About Retiring Rich That Most Millennials Don’t Know appeared first on Soutas Financial.

source https://soutas.com/the-truth-about-retiring-rich-that-most-millennials-dont-know-2/

Why Modern Retirees Are Breaking All the Rules: Real Tips from Happy Retirees

Modern retirement looks quite different from what it used to be. Retirees themselves offer the best proof of this change. Previous generations might have embraced quiet golden years, but current statistics paint a different picture. Before the pandemic, two-thirds of retirees chose bridge employment and stayed active in the workforce.

Modern retirees are creating their own rulebook, and their experiences offer practical lessons for others. The old retirement playbook has become outdated. Anyone planning for retirement or already there should understand what truly works in today’s world.

Why Traditional Retirement Rules Are Changing

Life expectancy has changed retirement planning fundamentally. Men now live an average of 21.4 years and women 23.8 years after retirement at age 62. So, many Americans will spend more time in retirement than they did in school.

The traditional pension system has gone through a complete transformation. Only 20% of civilian workers participate in defined-benefit pension plans now. Seven out of ten pre-retirees think they face more retirement challenges than their parents and grandparents did.

The retirement world keeps changing with 57% of Americans planning to work at least part-time during retirement. This change shows both financial needs and a desire to stay active, as remote positions let retirees keep flexible work schedules while managing their retirement funds.

How Modern Retirees Stay Active

People reaching retirement age are finding that staying active means more than taking occasional walks in the park. Research shows that 65% of Americans want to start a business at the time they reach retirement. Retirement has become a launch pad for new adventures rather than a finish line.

Modern retirees stay involved in various ways:

Taking online or classroom courses

Learning musical instruments

Pursuing photography or arts

Semi-retirement has become a prominent choice. Many people choose to reduce work hours instead of stopping completely. This approach provides financial stability and makes the transition into retirement smoother. The numbers show that 37% of Americans say working helps keep their minds active, while 36% believe it maintains their physical well-being.

Smart Ways to Use Technology in Retirement

Technology has become a powerful ally for retirees and provides innovative solutions for health monitoring and financial management. Health-tracking devices let seniors monitor vital signs, while tools like CarePredict track daily activities, sleep patterns, and detect falls.

Retirement tech tools you need include:

Password managers for organizing login credentials

Calendar apps with voice command capabilities

Digital file storage for important documents

Health monitoring apps synced with smartphones

Online banking and financial management tools help retirees handle their finances independently. These digital solutions provide convenience and improved security features that ensure peace of mind for tech-savvy seniors managing their retirement funds.

Conclusion

We have a strong team of professionals helping ensure you receive all the assistance you need not only in developing your retirement income strategy, but in maintaining it throughout your retirement. Contact us today at 559-230-1648 or visit us today at Soutas Financial to see how we can help you Retire ”Your Way!”

Other Related Articles on retirement planning

Investment advisory services offered through Foundations Investment Advisors, LLC, an SEC registered investment adviser. The commentary on this website reflects the personal opinions, viewpoints, and analyses of the author, Soutas Financial, and should not be regarded as a description of advisory services provided by Foundations Investment Advisors, LLC (“Foundations”), or performance returns of any Foundations client. The views reflected in the commentary are subject to change at any time without notice. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security, or any security. Foundations manages its clients’ accounts using a variety of investment techniques and strategies, which are not necessarily discussed in the commentary. Foundations deems reliable any statistical data or information obtained from or prepared by third party sources that is included in any commentary, but in no way guarantees its accuracy or completeness. This is not endorsed or affiliated with the Social Security Administration or any U.S. government agency.

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source https://soutas.com/why-modern-retirees-are-breaking-all-the-rules-real-tips-from-happy-retirees/

How to Protect Your Savings From Inflation: A Retiree’s Survival Guide 2025

Protecting our savings from inflation has become a significant concern. Prices soared to their highest level in 40 years during 2022. The current annual inflation rate of 3.4% poses a serious threat to retirement savings.

The situation looks even worse for money in traditional savings accounts. These accounts earn less than 1% interest while the Federal Reserve targets 2% long-term inflation. Your savings actually lose value over time. The good news is that proven strategies exist to protect retirement nest eggs from inflation’s damage.

Understanding Inflation’s Impact on Retirement

Retirees living on fixed incomes face a tough challenge from inflation’s long-term effects. A typical 20-30 year retirement sees living costs double.

Here’s how inflation disrupts retirement in different ways:

Healthcare Expenses: Seniors pay three times more for healthcare than working adults

Fixed Income Erosion: Someone who needed $50,000 yearly in 1996 now needs $88,000 to maintain the same lifestyle in 2021

Investment Impact: Wealthy households face lower risks because they often invest in assets that grow with inflation

Retirees spend more of their budget on items that inflation hits hardest, like healthcare and housing. This forces many to withdraw extra money from their portfolios, which raises the risk of running out of retirement savings too soon.

Smart Money Moves for Immediate Protection

Building a strong emergency fund is vital for retirees who face inflation challenges. Working adults typically need 3-6 months of expenses saved. Retirees should plan for 12-18 months of living expenses in their emergency fund.

These money-saving strategies will help protect your retirement:

Keep detailed records of your spending and separate fixed costs from variable expenses

Downsizing could lower your monthly expenses for property taxes, utilities, and maintenance

Keep less cash and invest for growth potential to target returns above the 2-2.5% inflation rate

Retirement security needs attention on both fronts – increasing retirement income while keeping living expenses in check. You should shift away from fixed-income sources toward income streams that adjust with inflation for immediate protection.

Creating an Inflation-Proof Investment Mix

A well-balanced investment portfolio is the life-blood of protecting retirement savings from inflation. Most investors start with 60% in stocks, 35% in bonds, and keep 5% in cash.

Here are some inflation-resistant investments to think about:

Real Estate Investment Trusts (REITs) that bring in rental income and grow with inflation

Commodities, including energy, industrial metals, and agricultural products

Short-term bonds with lower volatility during high inflation

You might want to try a “bucket strategy.” This means splitting investments between short-term needs (1-3 years), medium-term growth (4-10 years), and long-term appreciation (10+ years). This comprehensive approach helps you manage inflation risk and market swings while keeping steady retirement income flowing.

Conclusion

We have a strong team of professionals helping ensure you receive all the assistance you need not only in developing your retirement income strategy, but in maintaining it throughout your retirement. Contact us today at 559-230-1648 or visit us today at Soutas Financial to see how we can help you Retire ”Your Way!”

Other Related Articles on retirement planning

Investment advisory services offered through Foundations Investment Advisors, LLC, an SEC registered investment adviser. The commentary on this website reflects the personal opinions, viewpoints, and analyses of the author, Soutas Financial, and should not be regarded as a description of advisory services provided by Foundations Investment Advisors, LLC (“Foundations”), or performance returns of any Foundations client. The views reflected in the commentary are subject to change at any time without notice. Any mention of a particular security and related performance data is not a recommendation to buy or sell that security, or any security. Foundations manages its clients’ accounts using a variety of investment techniques and strategies, which are not necessarily discussed in the commentary. Foundations deems reliable any statistical data or information obtained from or prepared by third party sources that is included in any commentary, but in no way guarantees its accuracy or completeness.

The post How to Protect Your Savings From Inflation: A Retiree’s Survival Guide 2025 appeared first on Soutas Financial.

source https://soutas.com/how-to-protect-your-savings-from-inflation-a-retirees-survival-guide-2025/