Managing Retirement in 2023

With the New Year finally here, you may be thinking about making some resolutions. And if you are, we have good news: it’s never too late to start.

Sitting down to craft your New Year’s resolutions can be the perfect time to evaluate where you are and where you want to go. Whether it’s eating healthier or getting serious about retirement planning, having a positive attitude and being open to change are the first steps to success.

If you’re ready to fine tune your retirement income planning this year, here are some practical ways to turn challenges into opportunities so you can reach your retirement goals and enjoy life along the way.

  1. Set Practice Goals

If you want to reach your retirement goals, it’s important to balance short-term and long-term planning. It’s easy to get caught up in a dream of the perfect investment or workout regimen that will get you to where you want to be faster, but the reality is that everyone has individual needs and a one-size-fits-all approach rarely succeeds. 

A better way to make your dreams come true is to identify practical goals. Setting a goal that you’re swearing off all carbs for a year might lead to disappointment, as could investing too aggressively or not saving enough.

Examples of short-term goals could be evaluating your budget to see where you can cut costs and save money. Paying down debt is another practical step that can provide tangible results within a set timeframe. Long-term goals could include researching retirement savings options that can help you plan for 20 years or more of retirement expenses, including housing, healthcare and costs of living.

  1. Be Accountable

Having someone keep you accountable is the best way to work on your long-term finances. The older you get, you don’t want to procrastinate on meeting your financial goals. The start of the new year is a great time to work towards accountability. 

One way to do this is by having a financial planner. They will be able to help you manage your time and finances and wont shy away from telling you the truth when it comes to making tough financial decisions. At APO Financial, we’re not just advisors, we’re advocates. Our qualified professionals don’t just point you down a path to retirement, we walk alongside you to help you reach your full retirement stride. All while keeping you accountable for your goals along the way.

  1. Look For Creative Ways to Save

January is a great time to assess your finances and see where you can trim the unnecessary spending. Do you have a gym membership you use frequently? Removing it from your budget is probably not the best move. Taking care of your health is one of the best investments you can make in the long term. However, if you only go once a month, you may be better off investing in quality walking shoes and hitting the pavement. This could potentially save you a lot in gym fees and gas in the long run. One of the best ways to look for creative ways to save is by making a list of how you can save money this year and identifying the strategies that you’re willing to try.

However, always remember that creativity and practicality should go hand-in-hand. So when it comes to your retirement plan, you should reap the benefits of a Fiduciary advisor to help guide you through your investments and adapt where necessary. This is an area where innovative investing advice should come from experience. Chat with your Fiduciary advisor here to learn more about new saving and investing initiatives.

  1. Track Your Progress

The new year is a great time to make some changes, but it can be tough to keep track of your progress. We all know that if we don’t write things down, they get lost in the shuffle.

If you’re looking for ways to stay on track with your retirement resolutions and goals, try keeping a record of what works for you. Keep a journal or create an online account where you can track your progress and reflect on what’s working. Online applications like mint or rocket money can help track your progress throughout the year. You’ll be surprised at how much you learn about yourself when you start paying attention! 

When in doubt, always speak with your retirement income advisor. Why? While it’s important to know where you stand financially at any point in time, keeping track of your retirement money—brokerage accounts, IRAs, 401(k)s, and the like—can get complicated. Today’s technology can make it easier to plan and save for tomorrow. The right advisor will have more sophisticated ways to track your financial progress throughout the year.

Final Thoughts

It’s never too late to get started on your retirement goals for the new year. Whether retirement is a decade away or just around the corner, setting realistic goals can help you achieve the retirement you’ve always wanted.

At APO Financial, our Colorado and Florida-based Fiduciary advisors are here to help you manage your retirement well throughout 2023. Our financial professionals put each client’s needs at the forefront of all we do.

Ready to get started? Contact us today for more information about our services, products and approaches. We’ll schedule a meeting that is most convenient and comfortable for you, whether it’s in person, virtually or by phone.

© 2023 APO Financial. All rights reserved.


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