CONTACT US
Enter your Name, Email Address and a short message. We'll respond to you as soon as possible.
Armando Patino, LUTCF®, FSCP®
Financial Advisor
Prudential Advisors
1 Tower Center Blvd, 16th Floor
East Brunswick, NJ 08816
Phone: 908-368-1588
Cell: 201-290-1941
March/April 2025
Are You Saving Enough?
When you think about retirement, what is foremost in your mind? Freedom from work? The chance to spend your time the way you want? The amount of money you will need to save to live comfortably?
The "M" Factor
It's probably safe to assume that money will be essential to your retirement plans. Whether your goal is to retire early or to keep working past your full retirement age (the age at which you are eligible to claim 100% of your Social Security benefit), knowing how much you will need to save to pursue the retirement lifestyle you want is essential.More Than a Number
The age at which you plan to retire will impact the years you have to accumulate retirement savings. The earlier your retirement age, the more aggressive you need to be with the amount you're saving. Conversely, the longer you work, the more time you'll have to accumulate savings. Since no one can predict how long you'll live in retirement, saving as much as possible is wise.Your Retirement Lifestyle
Thinking about what you want to do once you retire will give you an idea of how much savings you'll need to maintain your lifestyle. If extensive travel or a move to a new location is among your goals, you may need to save more than if you plan to stay close to home. Your savings may stretch further if you plan to work part-time during retirement.Consider Withdrawal Methods
Many retirees withdraw 4% of their portfolio yearly. While this provides a predictable income, it has drawbacks. If the bulk of your retirement savings are subject to market volatility, your monthly income could drop, too.Another option is the fixed dollar amount. This approach allows you to withdraw only interest payments you receive from your investments, most, if not all, of which will need to be invested in fixed-income securities.
Your financial professional can help you create a saving strategy considering your goals, risk tolerance and time horizon.
677987
Securities and investment advisory services offered through LPL Enterprise (LPLE), a Registered Investment Advisor, Member FINRA/SIPC, and an affiliate of LPL Financial.
"Prudential Advisors" is a brand name for the proprietary retail sales channel of The Prudential Insurance Company of America ("PICA") and its insurance company and other affiliates (collectively "Prudential"). Prudential Advisors financial professionals are licensed insurance agents of Prudential.
Pursuant to a strategic relationship among Prudential, LPLE, and LPL Financial, Prudential Advisors financial professionals provide securities brokerage services and/or investment advice on securities solely as registered persons of LPLE, an affiliate of LPL Financial. These financial professionals are permitted to brand under "Prudential Advisors".
LPLE and LPL Financial are not affiliated with Prudential.
This newsletter is general educational information provided by a Prudential Financial Professional and is not intended to market or sell any specific products and services, but rather provide general information about the subject matter covered only.
Prudential Advisors and LTM Marketing Specialists LLC are unrelated companies. This publication was prepared for the publication’s provider by LTM Client Marketing, an unrelated third party. Articles are not written or produced by the named representative.
The information and opinions contained in this web site are obtained from sources believed to be reliable, but their accuracy cannot be guaranteed. The publishers assume no responsibility for errors and omissions or for any damages resulting from the use of the published information. This web site is published with the understanding that it does not render legal, accounting, financial, or other professional advice. Whole or partial reproduction of this web site is forbidden without the written permission of the publisher.