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Millions of Americans including those with millions of dollars are anxious that they wont have enough money to retire.
GOBankingRates spoke with financial planners to find out theretirement-related questions theyre most commonly asked and how they answer them.
How Much Money Do I Need To Retire Comfortably?
Though common, its a great question and not an easy one to answer.
This concern stems from a genuine fear about financial security.
Clients often worry their savings wont be enough to sustain them throughout retirement, Nosenko said.
How Do I Create an Income Stream in Retirement?
This question comes up a lot for Jason DallAcqua, CFP, founder ofCrest Wealth Advisors.
We start by taking inventory of a persons assets, guaranteed income sources and annual expenses, DallAcqua said.
Their investments will provide a combination of interest, dividends and capital gains to provide for these withdrawals.
Coordinating which account types to take money from and when is an important component of the withdrawal strategy.
Should I Consider Roth Conversions?
People are eager to know whether they should consider Roth conversions.
The decision isnt straightforward, Carroll said.
It involves weighing the impact of paying taxes now against the potential benefits of tax-free income later.
Am I Taking Enough Risk in My Portfolio?
Generally, this question goes the other way: How do we make my/our portfolio as safe as possible?
Is It Okay To Financially Support My Children During My Retirement?
Many Americans help out their adult children financially.
Is this okay to do in retirement?
Some prospective and current retirees are eager to know.
It is paramount to know how assisting your children may affect short-term and long-term goals.
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