Retirement Planning

When it comes to retirement, people frequently ask questions such as “how much money do I need to retire?” or “how long will my current investment capital last?” Those are important questions. At JOYN, we add the other vital question “how do I build a retirement with more meaning and joy?”

The Shifting Definition of Retirement Today

Ten thousand Baby Boomers turn 65 years old in the United States each day. That’s one baby boomer retiring every 9 seconds. Baby Boomers aren’t just facing retirement in droves, they’re also facing a shifting retirement landscape posing significant obstacles.

First, we’re living longer than any generation before us. This is placing strain on traditional safety nets like Social Security. Those who designed social security did not foresee that 25% of current 65-year-old Americans will live past 90, and 10% of them will live past 95, according to the Social Security Administration.

Furthermore, pensions are disappearing from employer compensation and benefits packages. Finally, living longer means you could have unforeseen health expenses that could place significant strain on your financial longevity.

Therefore, it is increasingly more important for Baby Boomers and retirees to plan to self-fund their retirement – which could be 20 years or more in spending down your retirement savings.

Retirement at its Roots: A Major Life Event

Retirement is a life transition that moves you from paycheck income to portfolio income and it’s important to understand the financial choices in front of you. It’s also a time for planning a new way of engaging with life that brings fulfillment and purpose.

At JOYN, we address and integrate both sides of the retirement question.

For the financial questions we run sophisticated interactive projections to analyze various scenarios and options. We examine with you, and plan for, health care costs, inflation, and tax efficiencies. We also create a plan with income streams and a diversified portfolio that’s in line with your risk tolerance and retirement goals.

JOYN Helps You Expand Your Definition of Wealth in Retirement

The other retirement issue we examine is how you will invest yourself and your time, as well as your money.

Some people have a clear vision of the next phase of life, while others are looking to explore possibilities of what’s next. We help you take command of your future by engaging in conversations about what engages you, how to make a difference, strengthening relationships, and the pros and cons of working or volunteering or going back to school.

Ultimately, Baby Boomers facing retirement are coming to grips with a stark reality: living twenty or thirty years in retirement is a long time, particularly if you are stretched thin.

We can help you plan for them to be great.

For more tips and ways to overcome the four most overlooked elements of retirement planning, download our whitepaper and take charge of this important time in your life.

Retirement is wonderful
If you have two essentials:
Much to live for, and
Much to live on.

— Anonymous

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Financial Benefits of Behavioral Advising

Better Advice. Better Decisions. Better Life.

There are significant financial benefits focusing on your behavior and making better decisions. Vanguard research and other academic studies have concluded that behavioral advising can add 1% to 2% in net return. (Source: Vanguard, 2016

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