Article originally published by Kiplinger.com
Written by David Domenick Jr.
“It is sometimes said that planning and saving for retirement is much like mountain climbing. As you scale your way to the peak, you hope to see a glorious view of retirement on the other side.
But, just as with actual mountain climbing, you don’t get to revel in that view for long. It’s time to start your descent — actual retirement. And that’s when many people run into trouble.
The reason? They don’t have a good plan in place to make sure that the retirement savings they accumulated is able to support their retirement lifestyle — and will last the rest of their lives.
Without a comprehensive plan, that descent can get mighty treacherous. So, what do you need to take into account as you create such a plan? Let’s take a look:
You Need an Income Plan
For most of our lives, we depend on that regular paycheck, so we can pay our bills on time. When you retire, the paycheck stops, but the bills continue. That’s why it’s important to have a written income plan so you can replace that paycheck with another regular income stream. After all, Social Security typically will cover only about 40% of pre-retirement income. As you create your retirement income plan, you need to answer these five questions…”
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Amy Anderson joined the ILG Financial team in 2023 as the client relations coordinator. Her responsibilities include scheduling of appointments, annual check-up notifications, and annuity and required minimum distribution assistance. She is a graduate of Harding University with a degree in Computer Information Systems. Amy and her husband have two children and she enjoys reading, crocheting, music and spending time with her family.
Chase Lopez joined the ILG Financial team in 2020 as an advisor. Chase is a 2016 James Madison University graduate with a degree in management. Chase has been trained under the tutelage of Dave Lopez, who is not only the founder and managing member of ILG Financial, but also is Chase’s uncle and godfather. He also enjoys working alongside his cousin, Megan, who is Dave’s daughter. Chase, as a fiduciary, believes in putting his clients interests first, and building out plans for his clients where they can have a happy and fruitful retirement. He married his beautiful wife in February 2022 and both use most of their free time chasing around their little pup, Aurora.
Jessica Carson joined the ILG Financial team in 2018 as an agent. Jessica and her husband have four children, two dogs, 3 barn cats, 5 chickens, and three parakeets. She indeed loves her children and pets! When not at work, Jessica enjoys playing the piano and cello as well as traveling and spending time outside with her family, hiking, fishing, and boating.
Terri Center joined the ILG Financial team in 2019 as client services manager. She handles client records, application processing, and gathering information to provide a professional and friendly experience with all of our clients. Terri is a graduate of Oakland University. She is married and has two children. She enjoys hiking, family time, and puzzle challenging video games. She also likes to share her creativity in her canvas paintings and sewing projects.
Megan Jones joined the ILG Financial team in 2020 as marketing director. Megan and her husband live in Fredericksburg, VA with their German Short Haired Pointer, Gus. Megan is a graduate of Longwood University and holds a degree in communications. Megan is the oldest of Dave Lopez’s three children and not only enjoys working alongside her father, but also with her cousin, Chase, who joined the ILG Financial team in 2020 as an advisor. When not at work, Megan enjoys sitting on the back porch with family and friends enjoying food and music.