One of the most important questions Solana Beach residents ask themselves about the future is what will my retirement look like? What do I need in order to maintain the quality of life I have become accustomed to? How much should I be putting away today and will I leave my family a handsome legacy off of which they can establish their own life success?
In an attempt to find an answer to these exigent life questions, many Solana Beach residents turn to the endless wisdom of Google and, in particular, to a useful online tool known as a retirement calculator.
“The key word ‘retirement calculator’ is one of the most searched-for phrases in the country, with Google showing that it gets typed into the search bar more than 1.5 million times per year,” says Solana Beach’s LPL financial advisor, John Lohrenz. “The message here is that retirement planning is a universal concern: people understand that they need to make provision for retirement and they are turning to these retirement calculators to find out how.”
It Seems Legit, so what’s the Problem?
retirement calculators are basically software programs that take the information you punch in and spit out the numbers you theoretically need to provide you with a decent picture of your retirement. Using information that ranges from the more obvious “What is your gross annual income” to “What are your total monthly expenses?” and a myriad in between, these software programs can tell you what financial goals you should be trying to achieve. And while this can be quite helpful, the questions Solana Beach residents need to ask are these…
Are the numbers I’m getting out of this analysis realistic?
And am I willing to base some of the most important decisions I’ll ever make on the projections of a software program?
It can seem a little frightening that a decision that will impact your life, the life of your spouse and the lives of your family for the next 25 years can be made in less than a minute by an online tool. So, how accurate are these analyses and should Solana Beach residents be investing their trust and their financial decisions in the outputs provided?
Stay Tuned for Part 2
Next week, Solana Beach’s LPL financial advisor John Lohrenz will explain the answers to these critical questions, so stay tuned!
If you have any questions at all or would like individualized investment advice from our Solana Beach’s LPL financial advisor, please contact JKL Wealth Management at:
Phone: (858) 535-1705
Fax: (858) 535-1701
Alternatively, fill out the Contact Form and we’ll get back to you shortly.
731 S. Hwy 101, Suite 2K, Solana Beach CA 92075
Securities and Advisory services offered through LPL Financial, a registered investment Advisor. Member FINRA/SIPC.