Refining your retirement strategy

Get your financial ducks in a row while there’s still time

If you’re like most Americans, the years between ages 35 and 50 are more or less a steady course. By now, many people have built solid careers, married, had children and purchased their first home. Your income and expenses may be more predictable now than ever, making it prime time to take a snapshot of your economic situation. Where does retirement fit into that picture?

Re-evaluate to stay on track

When you were younger, retirement was too far into the future to be your main focal point, and your immediate financial needs (growing your income, saving for a house, preparing for a family) most likely took the spotlight. If that trying time is behind you, your next step should be re-evaluating your overall economic fitness to determine how to divide up your cash and assets to best benefit you now and in the future.

Imagining your retirement

Retirement isn’t exactly on the horizon, but it’s getting closer. Knowing how you want to spend it can help you determine what you’ll need to be comfortable. Do you hope to travel? Will you still have dependents in college? Do you or your spouse intend to work part-time? Ask yourselves these questions now, and plan based on your desired outcome.

Increasing your retirement funds

Hopefully you’ve been contributing to an individual retirement account (IRA) or 401(k). If you’ve been conservative with your contributions in these long-term investments, now is the time to get more focused on building your retirement fund. You may also start looking at other products — whole life insurance, annuities, other investments — to increase your post-work income stream.

One of the best ways to determine where you’re at, where you’re going and how to get there is with the guidance of an experienced financial professional. The companies of OneAmerica Financial^® can help you find a financial professional near you to help you meet your financial goals. Contact us today!