Retirement & Financial Planning Services
Whether you plan on retiring soon or not for several years, it’s essential to have a plan. Sun Cities Financial Group offers retirement and financing planning services in Phoenix, AZ. Whether you already have money set aside or are just beginning to think about retirement, our team is here to assist you. Once you retire and no longer receive a paycheck, you’ll need financial services to keep you going and provide a new source of income. After retiring, your focus will turn from accumulating wealth to spending it. This transition requires advanced retirement planning. While there are many options for saving money for retirement, our financial group specializes in CDs and annuities. It’s never too early or too late to begin preparing for retirement. Learn more about financial planning retirement and get in touch with us today for a free information packet.
Certificates of Deposit
Certificates of Deposit (CDs) are a popular way to invest safely. A safe and steady investment, CDs are protected by the Federal Deposit Insurance Corporation (FDIC) within limits. You’ll receive a fixed rate of interest over a set amount of time. With a CD, you’ll collect interest over time just for keeping a deposit in the bank. This is a very easy investment; all you need to do is set it and forget it. Because certificates of deposit earn interest with time, it’s best to invest in them early in life. Take advantage of compound interest with a CD from Sun Cities Financial Group. You’ll collect interest on your principal and future interest on that principal plus any interest you’ve already earned. With CDs, the longer your money stays in the bank, the higher interest payments get. We offer brokered CDs to help you with your retirement income planning. You don’t need a lot of money to invest in CDs. One of our bankers would be happy to speak with you about investing in CDs today.
Investing in Annuities
Annuities are another excellent way to invest in your future and plan for your retirement. Annuities are designed to either accumulate interest or provide a guaranteed income. Since annuities are safe and offer a regular flow of income, they’re often used for retirement planning. Sun Cities Financial Group offers many different types of annuities. We can also provide you with advice regarding strategies for investing in annuities for your retirement. Our experts would be happy to help you decide if an annuity is the right choice for you, teach you how annuities work and explain why you should invest in an annuity. Schedule an appointment to meet with one of our annuity experts today.
Retirement Planning FAQ
Here at Sun Cities Financial Group, we’re used to answering questions about financial planning after retirement, financial services, and more. Check out the answers to these questions we often receive about retirement planning:
What is retirement planning?
Retirement planning is a comprehensive process that includes determining your retirement income goals and taking the steps necessary to achieve them. Retirement planning involves identifying sources of income, calculating expenses, creating a plan for savings, and managing your assets and risk.
Why do you need retirement planning?
Retirement planning is essential. The process of planning for your retirement can help you avoid running out of money after you stop working. Without planning for retirement, you may find yourself without enough money to live after you stop working. You might be forced to go back to work or cut down on your cost of living expenses and not be able to enjoy your golden years as much as you’d like to.
How much do you need to save for retirement?
It’s not easy to think about life in your 70’s, especially if you’re only in your 30’s or 40’s now. Think about what your life may look like when you retire. Create your retirement goals so you can work toward them. While you can’t be sure about how much everything will cost in the future, you can do your best to calculate your housing costs, health care, food, and more. Financial experts used to say that people should have $1 million saved for retirement, but recently that’s changed to $2 million.
How to plan for future expenses?
It may seem difficult to predict the future and your retirement expenses. Our experts are here to help. Come up with a list of all your likely expenses, including housing, food, and healthcare. Look at average costs and factor in inflation.
What are the steps to retirement planning?
There are many steps involved in retirement planning. You’ll want to start by understanding your time horizon and your spending needs. Assess your risk tolerance and identify your best investment strategies based on your current income and interest-bearing opportunities.
Start Preparing for Retirement Today
There’s no reason to put off investing for your retirement. Our financial planning specialists are here to help you find the right path when it comes to saving for your future. Whether it’s through CDs, annuities, or other financial services, we can assist you in creating the best plan for your retirement income. Contact us today to schedule a visit to our location in Sun City or to request your free information packet.