Retirement Planning Reliable Retirement Planning Services When you’re younger, planning for retirement may not be at the forefront of your mind. Perhaps you’re busy with your career, purchasing a new home, or saving for your next vacation. However, the years can creep up on you, leaving you in an unfavorable financial position during your latter years. At Anthony Petsis & Associates, Inc., we offer retirement planning services that will help to ensure your golden years are truly golden.What Is Retirement Planning?Retirement planning is a strategic process that allows you to set financial goals and plans for your retirement. This will likely require you to use some of your current income to make long-term investments. Some of these investment programs include employer pension plans and individual retirement accounts (IRAs). We can also assist with estate planning strategies to help you best take care of you and your family. The Importance of Retirement PlanningBecause the average life expectancy of Americans continues to rise, retirement planning is even more necessary than before. The longer you live, the more money you will need in order to afford everyday expenses such as food, utilities, medical bills, and even your mortgage if it is not paid off. Another reason this process is important is that you simply won’t be able to work forever. Although there are some people who end up working well past retirement age, this is not a feasible option for most people. Even if you are able to work longer than expected, as you age you more than likely won’t have the ability to work at the same level or pace. Also, making sounds investments and plans for retirement can give you more financial freedom than social security alone can provide. Retirement Planning StepsPlanning for retirement includes several important steps. First, you must evaluate your current financial situation. This includes estimating your length of life, your future expenses, risk and return of various assets, incoming 401(K) and pension plans, current and future tax rates, as well as any retirement income you plan on receiving. Next, you should work on reducing all unnecessary expenses such as debt and extravagant expenses. Do you have an extra vehicle that you aren’t really using? Would you consider downsizing from a five-bedroom home to a two or three-bedroom home if you don’t really need the extra space? Lastly, you may want to consider how you can increase your income including setting up an annuity or delaying when you collect social security.Trust Anthony Petsis & Associates, Inc. The financial planning experts at Anthony Petsis & Associates, Inc. can help you assess your current financial situation and put you on track for a comfortable retirement through sound strategies. Our staff will listen to your goals and then guide you on how best to achieve them. Call us at (215) 968-6638 to set up a free consultation. You may also feel free to send an inquiry by clicking on this text.