Creating a Successful Retirement

One of the best things I did was work on the elements that I had some control over.  These are the ones I worked on.

• Determining funds needed in retirement.
• Determining source and amount of income.
• Deciding how much to save.
• Deciding how much to spend.
• Deciding how savings are invested.
• Minimizing current and future tax liability.
• Managing risk before and after retirement.

Here are the elements that have an effect, but I didn't control.  I probably spent more time thinking about these that I should have.  Better to have used risk management, which I did control instead of trying to forecast.

• The economy.
• Interest rates.
• Inflation.
• Who is elected or appointed.

Even though I've been retired for a while, I still spend time working on the things I control, especially the last 3 elements.

For more on Strategies and Plans, check back every Monday for a new segment.

This is not financial nor retirement advice. Please consult a professional advisor.

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