|Do You Have a Written Income Plan for Retirement?|
|News Releases - Business & Economy|
|Written by Ginny Grimsley|
|Friday, 23 August 2013 14:25|
Think You Have Your Golden Years Covered? – Get it in
Writing! Says Expert Financial Planner
“Age 85 is a bad time to go broke,” says expert retirement planner Jeff Gorton. Personal savings, various investments and, yes, Social Security may prove to be short of what you’d expected.
“Budgeting how you spend money before retirement can often be a misleading measurement of how you’ll actually spend it during retirement,” says Gorton, a veteran Certified Public Accountant and Certified Financial Planner™, and head of Gorton Financial Group (www.gortonfinancialgroup.com)
“Spending 40 hours a week at work not only earns you a paycheck, it also keeps you from spending money on more vacations, matinee screenings at the movie theater, extra trips to the mall or shopping online. You need to be exceedingly realistic in your planning, and the five years before retirement are actually the most crucial in solidifying post-employment stability.”
To prevent a rude awakening during retirement, Gorton makes certain his clients start with a written income plan (WIP). He reviews the benefits and importance of this “living document”:
“If you don’t have a written income plan, then you’re just hoping things will work out,” Gorton says.
About Jeff Gorton, CPA, CFP®
Jeff Gorton is a Certified Public Accountant and a Certified Financial Planner™ specializing in individual tax and retirement planning. He is also an Investment Advisor Representative under Alphastar Capital Management, an SEC Registered Investment Advisor, and has a life and health insurance license. Gorton works with individuals and their families to create and protect their financial legacies. He specializes in working with retirees in the areas of tax planning, benefits, retirement planning, estate planning and safe money techniques. He received his BBA in Accounting from the University of Oklahoma. Gorton previously worked for 10 years as the Chief Financial Officer for a large retail organization, overseeing their accounting, benefits and 401(k) retirement plans.
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