The Value Of Short And Long-Term Retirement Goals

One of the first steps in working with a Registered Financial Consultant like Matthew Dixon is to determine how much is needed in your retirement savings to enjoy the life you want to live after you stop working. This is often a surprising number for people in the Seneca, SC, area. Most individuals significantly underestimate what they need to enjoy their retirement without financial worries.

The Challenge with Long-Term Retirement Goals

Matthew Dixon works with clients to determine their long-term retirement goals. This includes all aspects of their financial needs for both essentials and ongoing costs, such as housing, health care, food, clothing, vehicles, and other issues.

Even without additional costs such as travel, this number can be overwhelming. As a general guideline, most financial planners recommend savings of at least 80 to 90% of pre-retirement income, which for many couples is close to one million dollars. This is not just in savings but also in Social Security and other sources of income.

This number is staggering for many younger people already trying to pay off student loans, mortgages, car payments, and manage the costs of a family.

Short-Term Goals

One of the advantages of annual meetings with Matthew Dixon is the ability to set short-term saving and investment goals that ensure you meet the long-term goal. A Registered Financial Consultant keeps the big picture in mind while working with the couple or individual to have the money they need to manage their current financial needs and live the life they want in Seneca, SC.

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