Dependable Retirement Planning Advisors

Bolingbrook Retirement Planning

A Bolingbrook retirement planning expert can be a good person to have on your side when you decide it is time to prepare for your future. Developing a sound Illinois financial plan for your life after work is incredibly important when you start to look what it will take to retire. Planning for your future health care needs is possibly one of the most overlooked aspects of this entire process.

Planning to Save in Bolingbrook

Formulating a successful strategy to get you to retirement in Bolingbrook is simple in theory. You start saving a certain percentage of your income for use and stop working once you have built enough money to live off of for the remainder of your life. The problem that many people in Illinois have with this process is they are either not saving enough or saving in the wrong places. A Bolingbrook retirement planning agent can show you the way.

If you are early on in your career in Bolingbrook, are you saving ten percent of your income? If you are well into your career and in your middle to late thirties, are you saving twenty percent of your income? If you answered no to either of these questions, you should call a Bolingbrook retirement planning specialist and speak to them about your finances. Taking just a few minutes to meet with a talented advisor to make a small course correction in your planning process will make your future life much easier.

A Bolingbrook retirement planning professional will ask you about many aspects of your life to get an idea of where you are at monetarily. They will want to know details about the 401(k) you have at your employer in IL and if the company offers a match of your contributions. You may only be putting away two percent of your income into your 401(k) and the company might match dollar for dollar up to four percent.

Not everyone is a stock market whiz; this is the reason retirement planning agents exist. If you are not contributing up to the company's match in your 401(k), you should start if you can afford to. A retirement specialist in Bolingbrook will give you helpful advice that will help you grow your nest egg faster. The faster you grow your nest egg, the earlier you can stop working and retire.

Health Care Costs in IL

Many in IL underestimate the need for health care planning. A Bolingbrook retirement planning professional can give you more detailed information about your particular situation. Sons and daughters living in Illinois who have a parent with Alzheimer's or dementia can give you an idea of how much an assisted living facility can cost. The cost of many of these places in and around Bolingbrook can easily cost $40,000 to $60,000 a year.

Have you saved enough to be able to afford a three to five year stay in an assisted living facility? Most people in Bolingbrook are shocked when they learn this and a lot are not in the position to be able to save that much by the time they find out. Talking with a Bolingbrook retirement planning representative about alternative ways to fund this very large expense should be done soon.

Planning for your retirement in Illinois should involve a thorough discussion about long term care insurance. This type of insurance will help cover some of the costs of an assisted living facility. If you believe you can self-insurance and have five hundred thousand to a million dollars you can earmark for health care costs, great. If you know you will not be able to do that, long term care insurance is the likely solution for you.

Your retirement should be the culmination of carefully saving and investing in the right places to make your life as comfortable as possible. Living off of Social Security and relying on it as your only source of income can be very tough. After working your whole life, you should be in a position to enjoy life and travel if you want to. A Bolingbrook retirement planning agent can give you the tools you will need to fulfill your goals.

Nobody likes paying taxes, so why not talk to a Bolingbrook retirement planning professional today to see how you can minimize the amount you pay. Distributions from a 401(k) are taxed because the contributions went in before taxes were paid. If you are in a low tax rate now, you may consider putting some of your money into a Roth IRA.

A Bolingbrook retirement planning representative can give you more details on how the different IRAs work. The distributions from a Roth IRA are tax free because you pay taxes on the contributions. Get a serious advantage by using the wisdom of a smart advisor during your retirement preparations.

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Retirement Planners In Bolingbrook

Rob Kirvan
Rob Kirvan
2135 City Gate Lane
Suite 300
Naperville, IL 60563

Kyle Nolan
Kyle Nolan
1515 W. 22nd Street
Suite 850W
Oak Brook, IL 60523

The Edge Team
The Edge Team
1776 Naperville Road Ste. 102A
Wheaton, IL 60189

Michael Cirelli
Michael Cirelli
27575 Ferry Road
Suite 100
Warrenville, IL 60555

Paul Garrett
Paul Garrett
101 W. 22nd Street
Suite 200
Lombard, IL 60148

Timothy Creath, CLU, ChFC
Timothy Creath, CLU, ChFC
903 Sienna Drive
Schaumburg, IL 60193

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