{"id":35683,"date":"2025-09-15T13:19:14","date_gmt":"2025-09-15T13:19:14","guid":{"rendered":"https:\/\/financialrush.com\/?p=35683"},"modified":"2025-09-15T13:19:14","modified_gmt":"2025-09-15T13:19:14","slug":"retirement-security-depends-on-planning-experts-say","status":"publish","type":"post","link":"https:\/\/financialrush.com\/?p=35683","title":{"rendered":"Retirement security depends on planning, experts say"},"content":{"rendered":"

\n<\/p>\n

<\/p>\n
\n
\n
\n
\n
<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
\n

Steve Baleno has been in the workforce for more than 30 years. He started saving for retirement<\/a> with his first job, and boosted his savings each year as his salary increased.<\/p>\n

Now at age 56, he\u2019s run different scenarios over the last few years to see if his retirement plan<\/a> is on track.<\/p>\n

\u201cIt gives me the security to know I could retire,\u201d said Baleno, who has a degree in engineering. \u201cI\u2019m not working longer than I need to, if I don\u2019t want to.\u201d\u00a0<\/p>\n

Many Americans are not as confident as Baleno in their ability to retire securely<\/a>.<\/p>\n<\/div>\n

\n
\n
\n
\n

More from Your Money:<\/h2>\n
\n

Here\u2019s a look at more stories on how to manage, grow and protect your money for the years ahead.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n

\n

Top retirement concerns include not saving enough, inflation eating away at savings<\/a> and cuts to government benefits, according to a new Natixis Investment Managers<\/a> survey.\u00a0The firm polled 750 Americans earlier this year.<\/p>\n

While the recent performance of the S&P 500 has raised Americans\u2019 optimism<\/a>, 21% of the survey respondents still say it will \u201ctake a miracle\u201d to retire securely. Yet experts say most people don\u2019t need something extraordinary to happen to feel more secure about retirement.\u00a0<\/p>\n

\u201cThey don\u2019t need a miracle, they need a plan,\u201d\u00a0said Dave Goodsell, executive director of the Natixis Center for Investor Insight. \u201cYou really gotta focus in on what you\u2019re doing and be honest about what your future cost might be, what kind of lifestyle you\u2019re going to have.\u201d<\/p>\n<\/div>\n

A plan is \u2018always the right answer\u2019<\/h2>\n
\n

\u201cIt is always the right answer to put all of the assets together and invest them according to a plan,\u201d said Katie Klingensmith, chief investment strategist at Edelman Financial Engines, a wealth planning and workplace investment advisory firm.\u00a0<\/p>\n

It pays to start early<\/a> and stay consistent. Having a plan can help give clarity to your retirement goals<\/a> and make decisions to reach those goals, like which accounts<\/a> to utilize, how much of your income to set aside and which investments to choose.<\/p>\n

It\u2019s also important to review your plan, and not make changes based on emotions<\/a>.<\/p>\n

\u201cMost of what happens in the news and in the economy short term will not have a material impact on the long-term wisdom of deploying everything in a way that is sensible and personal,\u201d she said.\u00a0<\/p>\n<\/div>\n

How to create a plan for retirement<\/h2>\n
\n
\n
\n

Dekiart | E+ | Getty Images<\/p>\n<\/div>\n<\/div>\n<\/div>\n

\n

There\u2019s a lot to consider when planning for retirement, including expected income from Social Security, pensions and personal savings, as well as lifestyle expenses.\u00a0You might enlist help from software and other tools, as well as a financial advisor.<\/p>\n

\u201cThis is a super complicated mathematical equation we give people,\u201d said Goodsell.<\/p>\n

Inflation, longevity and return variables can make it challenging to plan. \u201cThat\u2019s where a financial advisor, I think, comes into the equation,\u201d he said.\u00a0<\/p>\n

The value of advice is more than the right asset allocation mix. \u201cIt\u2019s also the emotional value\u201d and \u201cbuilding that relationship with a trusted person,\u201d said Andy Reed, head of behavioral economics and research at Vanguard.<\/p>\n

Even as artificial intelligence tools become more ubiquitous, \u201cit\u2019s not clear that talking to a Gen AI chatbot will deliver the same type of emotional value that a human advisor could,\u201d said Reed.\u00a0<\/p>\n<\/div>\n

\n
\n
\n
\n
\"Fidelity:<\/div>\n<\/div>\n<\/div>\n<\/div>\n<\/div>\n
\n

Planning tools from sites like investor.gov<\/a>, Boldin<\/a> and Empower<\/a> can also help people understand, track and forecast their finances to check if they are on target.<\/p>\n

Software planning tools and professional advice don\u2019t have to be mutually exclusive. \u201cA big chunk of our users \u2014 probably 15% or 20% \u2014 have advisors, and they\u2019ll share the plan they created with us with their advisor, and they just use it as a second opinion,\u201d said Stephen Chen, founder and CEO of Boldin.<\/p>\n

After sticking with his plan over the years and comparing different scenarios, Baleno feels good about his likelihood of a successful retirement. He\u2019s not ready to retire, yet, \u201cbut understanding I could retire if I chose to is a great feeling.\u201d\u00a0<\/p>\n

SIGN UP:<\/strong>\u00a0<\/em>Money 101\u00a0<\/em><\/a>is an 8-week learning course on financial freedom, delivered weekly to your inbox. Sign up\u00a0<\/em>here.\u00a0<\/em><\/a>It is also available in\u00a0<\/em>Spanish.<\/em><\/a><\/p>\n<\/div>\n<\/div>\n\n
Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Steve Baleno has been in the workforce for more than 30 years. He started saving for retirement with…\n","protected":false},"author":3,"featured_media":35684,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[],"class_list":["post-35683","post","type-post","status-publish","format-standard","has-post-thumbnail","category-investing","cs-entry","cs-video-wrap"],"_links":{"self":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/35683","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=35683"}],"version-history":[{"count":0,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/35683\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/media\/35684"}],"wp:attachment":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=35683"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=35683"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=35683"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}