Just as there are countless ways to earn money during an individual’s accumulation phase in life, there are also a very large variety of options available to those preparing to ensure that their accumulated savings are sufficient to carry them through their retirement years. Given the large variety of offerings available, individuals often become confused and disheartened when attempting to address their personal/family retirement plan.
Fortunately, there is now an innovative and uncomplicated framework which individuals in need of guidance can use to begin working through the complexities of retirement planning. This framework was introduced by Allianz Life Insurance Company and it was very well described in an article posted on Business Wire, Inc. with the above title. Their simplistic process consists of 4C’s which symbolize the core concepts that must be understood in order to effectively navigate through the important transition period starting roughly five to ten years before retirement. The four C’s include the following:
Clarity – fact-gathering part of the process where individuals look at the realities of today and address basic questions about their future
Comfort – involves identifying the desired lifestyle for what could be multiple decades of retirement living
Cost of Living – evaluates the impact of inflation on retirement savings
Certainty – identifies solutions based on time-tested data to help form a realistic and manageable retirement income strategy
For more details about this helpful process, please read the full article linked here.