Maintaining Your Retirement Savings Plan

Many people are immediately stressed when thinking about saving for retirement. The biggest hurdle is taking the opportunity to start a savings plan. Work with your advisor, so you can better understand the societal changes and economic fluctuations that will affect your income in retirement, in order to strategically prepare a plan that will support you throughout these golden years.

Once you have a plan that works for you, put it in writing and stay focused on your long-term goals. Don’t let short-term occurrences, such as currency fluctuations or ongoing market volatility, distract you from your plans. It is important to maintain your perspective, prioritize your retirement project, stay true to its long-term path, and let the stress subside. By taking these simple approaches when building a retirement savings plan, you have already conquered the difficult part.

Designing a Proper Retirement Plan Retiree Spending Risk

Retirees are living longer, leading healthier lives, and are spending more money on entertainment, travel, and health care. Many financial planners believe that retirees who wish to pursue a very active lifestyle face the risk of spending too much money. Overspending places excessive strain on a retiree’s investment portfolio, thereby increasing the danger of outliving his or her assets. By controlling expenses, retirees can preserve their lifestyle no matter how long they live.

We have designed a Retirement Spending Checklist so that Introducers and Clients can work together to understand and define how much one needs in retirement based off the specific status of each client.

Source: Morningstar, Inc. “Retiree Spending Risk”.
Source: MFS through Research Collaborative, an independent research. MFS Fund Distributors, Insightful Investor, “Planning to Retire at Age 65”.
The investment you choose should correspond to your financial needs, goals and risk tolerance. For assistance in determining your financial situation, consult an investment professional. Although the information provided to you on this material is obtained or compiled from sources we believe to be reliable, MFS and Morningstar, as well as Investors Trust, cannot and does not guarantee the accuracy, validity, timeliness or completeness of any information or data made available to you for any particular purpose.