Marietta Area Chamber of Commerce

Page 4 Marie a Area Chamber of Commerce Sponsored Advertisement Hall Financial Advisors, LLC 1101 Rosemar Road, Suite A, Parkersburg, WV 26105 416 Hart Street, Suite A, Marietta, OH 45750 TOLL-FREE: (866) 865-4442 Retirement today is active—a time to reinvent yourself, pursue your pas- sions, or do the work that you find especially rewarding. The freedom to do that requires care- ful planning, says Will Larson, Retire- ment Planning Strategist for Wells Fargo Advisors. Here, he provides his top three ideas to consider when it comes to preparing for active, ful- filling retirement years. 1. Have a clear, focused plan. Dur- ing most of your working life, it's fine to plan based on realistic estimates of what your retirement might be like. "About five years before you retire, though, you should get very accurate and detailed with the assumptions about how you'll live and what you want to accomplish," Larson says. Along with creating a detailed esti- mate of your costs in retirement, this is also the time to plan out what you want in this next chapter—and how you'll afford it. "For some people, recognizing that you can retire is often more powerful than the act itself," Larson says. Which means that when you no longer need to work, you might choose to work anyway, for the sheer enjoy- ment—or choose to work at a job you're passionate about but have nev- er had the freedom to try before. A side benefit: Continuing to work can help you delay using your retirement savings. 2. Let your finances inform your lifestyle changes. Once you make the switch to retirement, you might also need to adjust the way you think about your money. In your working years, you save for retirement and focus on accumulating assets. In retirement, you take actions that help give you a reliable, sustainable cash flow and keep your spending and expenses in line with that cash flow. with free time? To help clients get ready for the shift, Larson often suggests that they consider easing into changes slowly—perhaps working reduced hours for the years leading to retire- ment or using vacation days to try out a retirement lifestyle. For some, this transition phase leads to new expectations around retirement— and new goals for their life in retire- ment. Larson tells his clients that planning for retirement "isn't complicated but it is complex" due to the many inter- related components. For a fulfilling retirement, start planning those de- tails early and carry out your plan deliberately. It's crucial to develop a clear picture of your income potential before enter- ing retirement. That income potential will drive the decisions you make about working and spending during retirement. "The answers will help you determine whether your retire- ment vacations are to Paris, France, or Paris, Texas," says Larson. 3. Prepare for the psychological shift. Larson often asks this question of clients who are considering retire- ment: "It's Tuesday at 9:45 in the morning, and you're retired. What are you doing?" The question is designed to spur thought. How will you re- structure your life when your day is potentially filled Three Tips for Pursuing an Active Retirement Members of the Advisory Team Ashley Ullman, Rob Blasczyk, Brett Bronski, Rob Beardmore, Chris Hall, Managing Principal, Jeremiah Kuhn and Kevin Knab. This adver sement was wri en by Wells Fargo Advisors Financial Network and provided to you by Chris Hall, Managing Principal. Investments in securi es and insurance products are: NOT FDIC-INSURED/NOT BANK-GUARANTEED/MAY LOSE VALUE Investment products and services are offered through Wells Fargo Advisors Financial Network, LLC, Member SIPC, a registered broker-dealer and a separate non-bank affiliate of Wells Fargo & Company. © 2018 Wells Fargo Advisors Financial Network, LLC. All rights reserved. CAR-1218-03972

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