On The Money

How to determine how much money you actually need in retirement

INDIANAPOLIS (WISH) — Alex Joyce, President and CEO of ReJoyce Financial, joined us today to discuss how to effectively plan for your retirement. He said that it all comes down to lifestyle.

Joyce recommended to plan first and invest later when it comes to retirement. And outside of personal investment and savings, you should think about what you want your retirement income to look like.

What does it take to make an individual or a family whole from an income standpoint? After understanding what the lifestyle looks like and how much it takes for the family to be comfortable in retirement, a financial advisor can help back into that number.

Joyce said that for a while the rule has been to save a certain percentage or certain number, but sometimes a successful retirement comes down to more than dollars and cents. While the money helps, happiness is often more than a gigantic bank account.

ReJoyce Financial takes a wholistic approach to your finances, and there’s no time like the present to consider professional advice. Information on financial planning is available at the ReJoyce Financial website or by calling 317-903-0517.

THIS SEGMENT IS SPONSORED BY REJOYCE FINANCIAL.