How Much Do You Need To Save In Order To Retire With a $100,00 Income | Calculate Your Retirement $$

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Oak Harvest Financial Group
Published at : 21 Jan 2021
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Have you ever wondered how much you need to be saving in order to retire with a set annual income and not run out of money?

In this episode Troy Sharpe, CFP®, will show you how to use the TVM calculator to calculate how much you should be saving monthly and also how much you will need to be withdrawing if you want $100,000 in income adjusted for inflation.

$100,000 today will not have the same purchasing power as a $100,000 in 20 years.

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Working with a CFP® professional can be an important step toward reaching your financial goals. Not only do these advisors meet rigorous education and experience requirements, but they are also held to some of the highest ethical and professional standards in the industry.

Education
CFP® professionals must master nearly 100 integrated financial planning topics, including:

Investment planning
Tax planning
Retirement planning
Estate planning
Insurance planning
Financial management
In addition to completing a comprehensive financial planning curriculum approved by the CFP Board, or equivalent academic coursework, CFP® professionals are required to complete continuing education coursework, including a CFP Board approved code of ethics course, to ensure their competence in financial planning.

Examination
CFP® candidates must pass a comprehensive 6-hour CFP® Certification Examination that tests their ability to apply financial planning knowledge in an integrated format. The exam is notoriously difficult and only 64% of people who took the exam in 2017 passed. Based on regular research of what planners do, the exam covers:

Establishing and defining the Client-Planner relationship
Gathering information necessary to fulfill the engagement
Analyzing and evaluating the client’s current financial status
Developing recommendations
Communicating recommendations
Implementing recommendations
Monitoring the recommendations
Practicing within professional and regulatory standards

Experience
CFP® professionals must have a minimum of three years experience in the personal financial planning process prior to earning the right to use the CFP® certification marks. As a result, CFP® practitioners possess financial counseling skills in addition to financial planning knowledge.

Ethics
As a final step to certification, CFP® practitioners agree to abide by a strict code of professional conduct, known as CFP Board’s Code of Ethics and Professional Responsibility, that sets forth their ethical responsibilities to the public, clients and employers. CFP Board also performs a background check during this process, and each individual must disclose any investigations or legal proceedings related to their professional or business conduct.

Visit our website for more information: www.OakHarvestFG.com

#buildingwealth #retirementplanning #retirementincome
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