Broker Check

The World Is Not Enough

| June 03, 2019

I have been a fan of James Bond flicks for years. This movie comes to mind because of some recent articles circulating on social media about how much you need before you can retire. After reading one of those articles, I can see how some people might feel “The World Is Not Enough” when it comes to the magic number and their retirement savings. Let me first say that if you are planning on retiring in San Francisco or anywhere in California for that matter, it is probably going to take more than $2 million.

There is a plethora of simplistic rule of thumbs that have been tossed around for years. The 4% rule has been around since the 1990’s (like the movie) and it is still a terrible way to decide if you have “Enough World.” Another is putting it all down on a spread sheet and counting on that to give you a clear picture of your retirement. These are just plain lazy ways to figure out if you have saved enough. Both methods miss many important things and do not consider some very serious variables, variables that will help show whether you have enough money for the next 30 years or whether you will be working part time at Home Depot.

Engaging a professional to do a comprehensive financial/retirement plan is one of the surest ways to find out if you have “Enough World.” It can also help you map what you can begin doing today to help you live that retirement dream you have every day after lunch or after that last staff meeting. It can help bring your dreams to life. A famous line in the movie from Elektra King:

“There's no point living, if you can't feel alive.”

Give us a call at 256-417-4870 and let us help you with a plan so you can begin the process of feeling alive.




Mike Mickels is President of CochranMickels Retirement Specialists and an avid sporting clay competitor. CochranMickels Retirement Specialists provides personalized planning and investment services to individuals approaching and in retirement. They also provide retirement and benefits training to Federal employees

Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a broker-dealer, member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc, a Registered Investment Advisor. CochranMickels and Cambridge are not affiliated.