In order to best prepare for the financial component of retirement, financial planner Ann Wolfson of Ann Wolfson Associates asks her clients to “actively imagine the possibilities of retirement.”

Wolfson asks clients to view their working years as years where time was sacrificed for work as opposed to retirement years where she asks clients to see time as theirs entirely. “In retirement, time is yours. Late meetings, missed events, and short vacations are things of the past. Imagine yourself with all the time you did not have control over during your working years. That’s what we’re talking about. What do we want to optimize your finances and investments for? Your time.”

Wolfson works with her clients to take a hard look at the freedom of retirement. “Often, I have clients list their intended retirement activities, the costs of each activity, and the priority of each activity. Some activities are more important than others, and some activities are not always realistic.”

Through these exercises, Wolfson helps clients to analyze and plan ahead with financial decisions that optimize their retirement plans.

Wolfson also asks clients to take a hard look at health care and its costs. “The ‘What If’ scenarios are hard to think about, but ultimately, you feel a sense of security having planned ahead. Some clients want to be in more expensive nursing homes, and some want to stay at home with home aides if they need them. This is the side of retirement that people do not always want to think about. We sometimes call it post-retirement planning.”

Wolfson recommends that anyone faced with retirement in the future talk with their financial professional to start charting a course to meet their retirement goals.

Conveniently located in Central New York state, Ann Wolfson Associates is a financial planning and consulting firm dedicated to helping individuals, families and organizations reach their financial goals. If you have questions about this article or if you would like to become a client of Ann Wolfson Associates, please call (315)449-4730.