A comprehensive guide to retirement savings and investments

Across the world, people are saving for that "someday" called retirement. Someday, their careers will end. Someday, they will live off their savings or investments, plus other income. They know this, but many of them do not know when, or how, it will happen. What is missing is a strategy - and a good strategy can make a significant difference.

A retirement strategy directly addresses the "when, why, how" and even "where" of retiring. It breaks down the process of getting ready for retirement into actionable, easily digestible steps.

This is very important. It is possible to retire confidently, even if you are uncertain of what your tomorrow looks like right now. In fact, a 2024 study by the Employee Benefit Research Institute found that nearly half of workers retired earlier than they had planned. This highlights the importance of preparing early and staying flexible. . You can do this by saving, investing, and acting on your vision of retirement now to chart a path toward your goals and the future you want to create for yourself.

Focus on what you can control

Since it's impossible to predict the future, some people dismiss having a long-range retirement strategy. Indeed, there are things about the future you cannot control, like how the stock market will perform or the conditions of the economy. That said, you are able to control many other things: the way you save and invest, your spending and borrowing habits, the length and arc of your career, and your health. Most importantly, you also have a chance to be proactive and to prepare for the future. The best time is now.

A good retirement strategy has many elements

It is important for your retirement strategy to include set financial objectives. It should address your retirement income: how much you may need, the sequence of account withdrawals, and the age at which you claim other supplemental benefits. It should establish (or refine) an investment approach. It should examine financial implications and possible health care costs, as well as leaving a legacy and consider the transfer of assets to heirs.

A prudent retirement strategy also entertains different consequences

To craft a robust retirement strategy, it is essential to consider your overall financial situation. Seeking guidance from a financial professional can help provide important insights that you may not have considered. Professionals often use multiple-probability simulations to try and assess the degree of financial risk to a retirement strategy, in case of an unexpected outcome. These simulations can help to inform the financial professional and the retiree or pre-retiree about the "what ifs" that may affect a strategy. They also consider sequence of returns risk, which refers to the uncertainty of the order of returns an investor may receive over an extended period of time.

Let a retirement strategy guide you

Our Wealth Advisors are here to assist you with your retirement strategy, personalized for your goals and dreams. Once you have a good strategy, it's easier to take steps in pursuit of the future you want and deserve. It's all about you and your financial peace of mind.

Securities and advisory services offered through Copper Financial Network, LLC ("Copper Financial"), a broker-dealer and SEC registered investment adviser. Member FINRA/SIPC. Your Credit Union has contracted with Copper Financial to make non-deposit investment products and services available to its members. Representatives are registered with Copper Financial. Your Credit Union and its investment group (if applicable) are not broker-dealers or investment advisers and are not affiliated with Copper Financial. For important disclosures from Copper Financial please visit here. 

Copper Financial registered representatives associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. 

Link to the Copper Financial Customer Relationship Summary

Investment and insurance products offered through Copper Financial:

Your Credit Union has contracted with Copper Financial to provide investment products and services to its members. Your Credit Union is not a client of Copper Financial. Your Credit Union will receive compensation from Copper Financial if you open an account with Copper Financial. This compensation creates an incentive for your Credit Union to refer clients to Copper Financial. For additional information please see the Program Credit Union Referral Fee Disclosure available here.

To learn more about Copper Financial and its financial representatives, visit FINRA BrokerCheck.