Managing Lifestyle Creep: Another Way to Extend Retirement Income

RELATED CONTENT

16 Lifestyle Questions to Ask Retiring Clients

Horsesmouth Essential: Discussing nonfinancial issues with clients approaching retirement shows you understand the big picture. That enhances your credibility, deepens clients’ trust, and strengthens their loyalty. Use these questions to guide your conversations.

How Saving Another 5% of Income Can Add Years to Retirement

Convince a 30-year-old to save another 5% of her income and you’ve added another decade to her retirement portfolio. Even older clients gain time with increased savings. But persuading clients to change their consumption is hard. These “saving scenarios” could help you win the discussion.

The Retirement Portfolio Lifecycle

A retirement portfolio has a 70-year life: 35 years of saving followed by 35 years of spending. While financial engineering can stretch the nest egg over time, a good rule of thumb is to have 12 times final income saved upon retirement. We compare 10 retirement portfolios at various savings rates to determine which investment models offer the greatest chance for success.