Robert Nico Martinelli – Gearing Up for a Secure Retired Life




You have worked so hard all these years, and now the time for retirement has arrived. Now, the question is, how well prepared are you for this important stage of your life? Experts in the field say that you need to ascertain your lifestyle goals first to ascertain how much money you need for retirement and how early you plan for it.

Robert Nico Martinelli – How can you start preparing for your retirement?

Robert Nico Martinelli is an esteemed expert in retirement tax planning in the USA. According to him, it is very important for people to be aware of what they expect at the time of their retirement. For instance, you might live simply but have the dreams of going on a world tour; in such a case, you need to save for 30 years or so to fulfil your dream.

So, from the above, it is evident that you need to know what you expect in order to start planning well and gearing up for your future.

How long are you expected to live after your retirement?

On average, many people consider the average life expectancy to be about 75 years of age and 65 for both males and females. Women generally live longer than men, so they can plan for three years less than men when it comes to their retirement planning.

The amount you will withdraw annually from the savings account?

Once you know the amount of money you need for retirement, the following step determines how much of that money you can safely withdraw every year. Generally, experts in the field have placed this percentage at 4%. However, this percentage was calculated several years ago when the rates of interest were higher.

The scenario is different today, and it is not safe for people after retirement to withdraw more than 3% of their total investment every year. This step should not be taken, even if they are keen to reduce the spending later in their lives or take a lump sum.

Know when you are ready for retirement

When it comes to retirement, you must know when you are ready for it. This should be done as early as possible. There is a common mistake that many people make, and this is they often follow their friends and family when it comes to retirement planning. According to him, this is the wrong thing for you to do. Your retirement income, goals and lifestyle are different. It is important to be aware of this that the needs of two people are not the same.

Savings is crucial, and in case you have not started to save for your retirement now, it is never too late for you to start. In case you have problems with your retirement planning, Robert Nico Martinelli recommends that you must consult a professional to help you in this regard. Remember, you also have to pay taxes and be aware of the rules and regulations pertaining to the same.