Budgeting – Total Financial Solutions Safer Money Hour – July 10, 2018
Budgeting – Total Financial Safer Money Hour – July 10, 2018
Hosts: Arif Halaby & Jeff Girard
Total Financial Solutions Safer Money Hour – July 10, 2018
On this episode of Total Financial Solutions, Hosts Arif Halaby and Jeff Girard discuss a few tips that they put together on how to properly plan for retirement so things go smoothly.
We see many people who think they are financially and emotionally prepared to retire. Unfortunately, we also see situations where the after retirement plan doesn’t work out as expected.
We have put together a few tips on how to properly plan for retirement so things go smoothly.
1.Have a plan.
It may seem hard to find the time to write down and plan for all possible present and future costs, but having a written plan is important. Having a list of exactly what money comes in what money goes out each month will help you know when the right time to retire might be.
The plan itself needs to be realistic. Many people think they can live on less money than they really can. We encourage practice retirement. Take the money out to last you six months, put it into a hard to access account and then see if you can live off of it for six months. Did you have to spend more money than you expected? Did you do less than you wanted to? Did you resort to a credit card? If yes, you need to reevaluate your financial retirement plan.
2. Know that the way you live your life may change, and plan for that.
You may think you know what life will look like after you retire. Many people have a long list of things they want to get done, thinking it will take them a year to finish everything. We see many people finish that list much more quickly than they anticipated and become bored.
We also see people intensify their bad habits. People have more time on their hands, so if they smoked half a pack of cigarettes a day, now they smoke a whole pack. People who overeat overeat more.
We have 22 years in this business and have helped over 10,000 clients and we see the same patterns. Know that you will want to fall into some bad habits and plan accordingly to prepare yourself.
3. Know that you will want to have a purpose, and plan for that.
When you’re young you work for money because you don’t have any, and when you’re old you work for a purpose because you don’t have any.
You may find that you want to continue working out of boredom.
4. Find a trustworthy, professional financial planner.
We’ve been in business over 22 years, and we are professional financial advisors who specialize in protecting your money and setting up a plan that helps you make money well into retirement.
At Total Financial Solutions, our mission is to help you protect principal, provide guarantee income for life, and design retirement strategies for your needs. We assist in building strategies to help you meet your financial goals. We are committed to treating every client with special care, whether we help with one portion of your insurable needs, or with your entire retirement income strategy.
Phone: (661) 753-9683
Total Financial Solutions offers assistance with preparing for retirement and financial planning in Santa Clarita and the surrounding valleys. Santa Clarita financial advisor Arif M. Halaby, a Certified Estate Planner, and Total Financial Solutions staff work with people of all ages, helping them protect, grow and preserve their assets through an individualized approach. Arif Halaby is also the host of “Total Financial Solutions Safer Money Hour” on KHTS AM-1220. Launched in 2004, the show offers listeners from Santa Clarita financial planning tips and guidance for dealing with today’s ever-changing financial needs.