According to many experts, knowing your cash flow is the most important piece of information you will need in order to tell if you are not only living within your means, but if you have financial stability. Financial stability in retirement becomes increasingly important the older you get. The reason for that is as we age, our ability to supplement our income by, for example, back to work part-time, will eventually disappear.
Once we are fully in retirement, most of us will have already factored in possibilities like obtaining money by selling our home, and we will have moved past the age of even part-time employment. That’s when your savings and what you did with them become very important. The consequence of losing savings in the market cannot be undone. The security of knowing you have a source income you won’t outlive is critical. Call us if you’d like to go over your situation when it comes to financial stability. We’d be happy to discuss it with you.