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retirement planning and pension strategies

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It’s never too early to start thinking about retirement! Even if you’re in your 20s or 30s, it’s always a good idea to start saving up for the future. After all, the earlier you start, the more time your money has to grow. That being said, we know that all of the numbers, account types, and rules can be overwhelming! At 3 Rivers Financial, we specialize in retirement planning. We can help you figure out how much you’ll need to save, choose the right investment products, and stay on track for a fulfilling retirement. So whether you’re just getting started or you’re well on your way, we can help you secure your financial future!


What is retirement planning?

Retirement planning is the process of determining your income goals during the non-working years of your life, what needs to be done to ensure that those goals are met, and how long we have to fulfill them. Retirement planning is a very well-rounded process because it not only encompasses your finances and personal goals, but your lifestyle preferences as well.

How much do I need to retire?

This number changes from person to person, depending on your personal circumstances and lifestyle preferences during retirement. There are many “rules of thumb” and general amounts that others have put forth, such as those who recommend saving at least close to a million dollars. You might have also heard about the guideline to save 80-90% of your pre-retirement income or the 4% rule, which suggests that retirees stay within 4% of their retirement savings per year. Don’t let these numbers scare you! Just like income planning, these guidelines are meant to be customizable for each person. The best answer to this question is a personalized one, and our team would love to help you narrow that down over a conversation about your expectations for retirement!

What variables affect the process of retirement planning?

We’ll get to have a great conversation about everything from your finances to your family home and what you’ll enjoy doing once you retire! Retirement planning doesn’t have to be boring. We’ll consider things like:

  • Amount of current monthly or annual contributions
  • Preferred investment accounts (401Ks, pensions, IRAs, etc.)
  • When you’d like to retire
  • What activities you’ll do in retirement (Shopping, dining out, traveling, etc.)
  • Where you’ll live (Selling or keeping your home?)
  • Expenses for needs and wants, such as health insurance, food, clothing, etc. 
  • What you think your income will look like in retirement