Retirement Planning Philosophy

What We Believe & Why

At California Retirement Advisors (CRA), we believe that retirement should be the best years of your life. Proper financial planning can have a significant impact to help provide the confidence you want and need to be happy during retirement.

This company was built around the same principles and philosophies we use to plan for our own retirement journeys.

Here are eight considerations we believe will help you plan for success and happiness during retirement:

  1. 1 Have a plan! If you fail to plan, you plan to fail. Most people never take the time to organize a complete financial plan. Think of all the things you plan for in life; family, college, wedding, career, vacation. But, have you taken the time to make a financial plan for your retirement?

A Walk in These Shoes
It’s how we plan for your retirement

  1. 2 Your values are your compass. What makes planning fun is that it is all about you. But too often people don’t ask the right questions to help determine what YOU believe, what is important to YOU what YOU are trying to accomplish. Only after these questions are answered can you effectively make plans to move in the direction that YOU desire.
  1. 3 Focus on objectives. Today, aspects of financial planning such as investments, taxes or estate planning areas are all interrelated. A change in one area can have an unintended and adverse consequence in another. Therefore, it is important to focus on objectives first, revolving around what you are trying to accomplish. By doing so, it will help you and your financial advisor better determine which tactics will help you best.
  1. 4 Income is king! You may remember the phrase “cash is king.” But for retirement, income is most important—and “net” income at that. How much income you need will be the driving factor to help make strategic financial decisions to help maintain your lifestyle and standard of living.
  1. 5 Step-by-step. When planning for retirement, the “to-do” list can become daunting, often resulting in little getting accomplished. Instead, make a priority list of the top three items to do first before moving on to the next three items. By having a small and simple checklist, you will be more likely to accomplish them all.
  1. 6 Plan A – Plan B. There are outside variables that are constantly changing when planning for retirement. To address these unknowns, first consider a base plan where assumptions are conservative and constant. Consider this your Plan A. Once you’ve solved for these scenarios, consider your Plan B assumptions. Plan B provides a backup to your Plan A when it is at risk. What can you do now proactively to help prepare for that potential Plan B event that may otherwise derail your Plan A?
  1. 7 Monitor and review. In today’s constantly changing environment, simply having a plan is not enough. Regular monitoring for progress and updates is needed to stay on track. Done properly, this can also provide you the data necessary make proactive adjustments along the way.
  1. 8 Don’t procrastinate. A carefully thought out plan implemented today is far better than a perfectly crafted plan that may never exist. Start today!