Why do you need a financial plan?
You want to enjoy your retirement, but today's environment poses five unique risks that could stand in the way of your goals. A plan from Ameriprise Financial, however, can help you manage these risks and give you the peace of mind that comes from having a plan.
How it can affect you:
It's a fact of life: the market goes up, the market goes down. Though it's tempting to pull out of a down market, it could cost you in the long run.
How we can help:
An Ameriprise financial advisor can help you create an asset and product allocation strategy to manage risk in a manner that is most appropriate for your circumstances, while still generating income to help meet your retirement needs.
How it can affect you:
As life expectancies increase, so does the risk of outliving your retirement assets. In addition, inflation will make life in retirement much more expensive in years to come.
How we can help:
An Ameriprise financial advisor can help you plan for your inflation-adjusted retirement income needs, helping to preserve your standard of living.
Even a modest 4% annual inflation rate means living costs will double in just 18 years.
How it can affect you:
You want to keep as much of your hard-earned savings as possible. And taxes can have a big impact on your income before and during retirement. Knowing the tax rules can be the difference between using your income to meet your needs or spending it on tax payments.
How we can help:
An Ameriprise financial advisor will help you develop a strategy to manage your assets in a way that's both tax efficient and customized to your individual situation. When you retire, your advisor can help by recommending tax-efficient strategies for creating income from your savings.
Neither Ameriprise Financial nor its affiliates or representatives may provide tax or legal advice. Consult your tax advisor or attorney about issues specific to you.
How it can affect you
Medical costs are rising even faster than the rate of inflation, and fewer employers are offering health care coverage for retirees.
How we can help:
An Ameriprise financial advisor will work with you to recommend plans to help protect you from the potential impact of rising health care costs as you grow older.
The average 65-year-old couple will need $295,000 for insurance premiums and out of pocket payments during retirement.
Employee Benefit Research Institute, Issue Brief, July 2006
How it can affect you:
Life can be unpredictable. And you never know what can happen that will affect the amount of money you need in retirement.
How we can help:
An Ameriprise financial advisor can help you sort through contingent financial options that are designed to protect your financial security in retirement. Knowing that you have a plan and are prepared to handle unforeseen events can give you the peace of mind that you're prepared for the retirement you've envisioned.
Most financial professionals recommend setting aside 3 to 6 months of expenses in easily accessible savings as your reserve for the unexpected.
It's simple:
More people come to us for financial planning than any other company.1
Preparing for retirement is the number one reason people come to us for financial planning.2
We have more CERTIFIED FINANCIAL PLANNERTM professionals than any other company.3