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A Retirement Income Projection helps you meet your goals

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Michelle Blog PhotoI met with some pretty great people last week. I was working in a school district providing employees with various financial planning services. One couple was especially memorable. They participated in a Retirement Income Projection, one of our services that helps determine whether you are on track to retire and what adjustments you need to make now to meet your retirement goals. It’s a slimmed-down version our Retirement Income Analysis, which means it costs less, but requires that you play an active role in gathering the necessary data for the Projection.

At the appointment, they said that the process of getting ready for the Projection (documenting assets, liabilities, expenses, and savings) was an eye-opening experience that caused them to have an honest conversation about their priorities and led to both committing to spending less and saving more. It was EXACTLY what the Projection is all about: giving people information early enough that they can make changes that impact their financial future and meet their goals.

It’s easy to lose sight of the goal with all the distractions life throws at us. Taking time to re-check where you are and where you want to be can get you back on track. These folks were in a good place already, but with the changes they plan to make because of their Projection experience, there’s a good chance they could retire a few years earlier.

Michelle Slawny, CFP®