Financial planning is an ongoing process that will reduce your stress about money. Financial planning isn't just for the wealthy: Creating a roadmap for your financial future is for everyone. You start with goals because they will inspire you to complete the next steps and provide a guiding light as you work to make those goals a reality.
The strategies and techniques you used to accumulate wealth are inherently different than those used to distribute income. As you move into retirement you must ask yourself “what is more important” ROI (Return on Investment) or ROI (Reliability of Income). Sequence of return risk is one of the greatest risks you will face in retirement. Standard of living in retirement is measured by income not wealth.
ERISA states: You must act as a prudent expert, and if you can’t, you should rely on one. Administering a plan and managing its assets requires certain actions and involves specific responsibilities. Employer-sponsored retirement plans serve two important goals: attracting and retaining skilled employees, and providing a platform to help them saved for a timely and dignified retirement.