Financial Planning Focus - Client Question: How Much Can I Spend in Retirement?

This is actually a trick question. Because every client eventually asks it and every answer is, of course, different. It is our job to make sure that our clients meet and/or exceed their retirement goals, including timing of retirement and desired spending levels. Does the investment rate of return have an impact on these retirement goals? Yes, it does, but not as much as you would think. In the years we have been doing comprehensive financial planning for clients, we have noted that being able to manage your cash flow (i.e., don’t spend more than you make) is the single most important factor in a plan that succeeds over the long term.

At West Financial Services, our financial planning services are stand-alone and not limited by asset management minimums, nor are they required for an asset management engagement. Historically, many clients who have done a financial plan with us have later engaged our asset management services, primarily because the process builds trust and allows us to get to know each other on a much broader level.

If you have never had any financial planning done in the past, we are in the process of rolling out a promotion for existing asset management clients. This retirement cash flow projection promotion is an opportunity for existing clients to get an answer to the above question at a reduced cost from our regular planning fees. Keep an eye out in your mail or email box for a letter from your relationship manager with the details of this promotion.

If you are not an existing asset management client, please contact any member of the financial planning department to discuss your goals and how our planning services can help you meet them.

Important Disclosures

• Registration does not imply a certain level of skill or training.

• Any conclusions presented or hypotheticals presented are based upon facts derived from publicly available information, and are also based on certain assumptions, including that there are no additional changes to current law, and that demographic information regarding retirement accounts also remains unchanged. Further, hypothetical scenarios presented are solely presented for the purposes of demonstrating available retirement options, and do not include any information, analysis, or conclusions regarding other areas of an individual’s financial future.

• Certain information presented includes facts and analysis the accuracy of which is dependent upon current regulations regarding taxes remaining unchanged. Changes in tax law or other rules could materially, and adversely, affect any financial or retirement plan. Therefore, no person reading this material should accept this information as investment advice. 

• Some information in this presentation is gleaned from third party sources, and while believed to be reliable, is not independently verified.