The keys to a successful retirement plan are:
• Forethought - knowing your goals and resources, then acting with time to implement your plans.
• Savings - You must have the willingness and ability to save adequate amounts.

A good retirement planner will help facilitate and motivate you towards these ends. He or she can assist you in thinking through your goals, identifying the necessary resources, assessing your options to put those resources to work for you, then tracking your progress and success. They can also help you modify your strategy when your life situation warrants it.

For Business Owners
For the owners of closely held businesses, this can be even more critical:
• Their attention is focused on running the business.
• Their success demands greater than average funds to maintain their standard of living on retirement.
• They may not have a company sponsored pension of 401k plan, or they may be strictly limited in their participation by governmental regulations.
• Much of their wealth and savings may be tied up in the business - not accessible when they want to retire.
• Their retirement may leave a leadership vacuum for the company.

Wayne W. Kollas Inc. can provide expert financial and retirement planning whether you just need a little basic guidance or are looking to integrate your retirement plan with your estate plan and a business continuation program for your business.

Since we are independent and utilize the services a number of different financial services companies, we are free to focus on your needs and assist you in both planning and selecting the appropriate retirement savings vehicles for your situation. This offers a much wider range of possible strategies and ways to meet your goals, and it assures that your goals take precedence over any outside interests.

Many people envision working along steadily in their careers, then retiring at age 65 to enjoy the rewards of the golden years. Whether having time to see the world, or really get to know the grandchildren, the allure is strong and it has been the norm in times past. For many today, this may remain a dream. Increasing life-spans and upward trending costs of living means a retiree must have more money set aside to maintain their standard of living throughout their lifetime. Because they lack the resources, many people are finding themselves working well beyond the date they had planned to retire, or are facing a greatly reduced standard of living.

"Common" Approaches May Fall Short
The most common forms of saving for retirement are Social Security and a pension and/or 401k program through work. The problem arises when not enough resources are saved through these mechanisms to adequately provide for the retirement years. Social Security will only cover a fraction of the retirement needs of the average retiree today. When this is added to the uncertain future of the program, one might consider relying on it solely as folly.

Many employers offer pension and or 401k plans to their employees. These provide for a set benefit or allow for pre-tax savings and investment for retirement. These can be powerful tools, but without proper planning, employees may not take full advantage of the savings, nor select investment options that provide the investment growth necessary to fund their retirement.

Planning Is Critical
Retirement planning is important. It allows you to assess your future needs, then look at the role Social Security and your employment based retirement programs will play in meeting your needs. Your saving and investing habits can be changed and additional sources of retirement savings can be explored. Getting started early is also critical. By saving over long periods of time, the investment value of your retirement savings will work for you compounding and increasing your savings dramatically. Unfortunately, many people don’t begin to consider their retirement until it is imminent and there isn’t enough time to save properly for it

Please feel free to phone us at (888) 575-5445 or e-mail info@wwkinc.com. We would be happy to discuss your needs and how we may be able to assist you.