Will You Have Enough to Retire? Here’s a New Way to Find Out

Seniors looking at laptop
Photo by Flamingo Images / Shutterstock.com

When will you have enough to retire? Answering this important question is tough because it depends on so many factors — your Social Security payments, how much you have in retirement savings and other assets, how your health holds up, when you hope to retire and how — will it be cat food or caviar in your golden years? And then there’s the uncertainty of the stock market, as recent weeks have painfully reminded us.

It’s complicated, which is why I’m excited to tell you about a new retirement assessment program that crunched the numbers for me and condensed my retirement outlook into an easy-to-read report and a clear action plan to address trouble spots.

The SmartPath Retirement Readiness program is ideal for people who are working, trying to save and generally paying attention to their finances — and don’t want to hire a full-time financial adviser. This flat-fee service, which combines human financial expertise and computer modeling, is a way to ensure your finances are on track, and adjust them as needed, whether you are just starting out your career or getting close to retirement age. You may even decide it’s worth doing annually, or every few years, as a financial checkup.

The program is easy:

  1. After providing your financial details, you schedule a call with a SmartPath adviser to review the numbers as well as your individual vision of retirement. (I chose to combine the legwork — pulling the financial information together — with preparing our taxes, which made it easier.)
  2. In the following two to three weeks, your personal consultant goes to work. With the aid of computer modeling, they generate a report that shows your expected post-retirement income and expenses, including spending money, health care expenses, return on investments and appreciation of other assets. The program also runs dozens of “stress tests” to see how your finances hold up in different scenarios, such as a major drop in the stock market or unusually high inflation.
  3. In a second call with your SmartPath consultant, they review the report with you. It’s a cool process that allows you to see how you are doing and how you’d be doing if the economy or your life took unexpected turns. Finally, your SmartPath adviser puts together a clear action plan, so you can get on track and stay there.

Your report might say you’re on track — nothing to change! More likely, you’ll discover some weaknesses in your finances (I did) and get recommendations for addressing them. You may be referred to additional resources for budgeting or debt management. It’s even possible you could be told you’ve got more than enough and can consider spending more and saving less.

Although I had to confront a blind spot in my money management (meh), this process was easy, my consultant was smart, funny and kind, and the report helped crystallize a couple of key things: We’re on track for a reasonably comfortable retirement with some travel.

In summary, I came away with a new sense of confidence about what we’re doing now and what to do next.

MoneyTalksNews founder and CEO Stacy Johnson also went through the program. Here’s what he had to say about his experience with the SmartPath Retirement Readiness program:

“I’ve been offering financial advice professionally for about 40 years, including 10 as a Wall Street investment adviser. So you’d think it would be a waste of time for me to visit with a professional financial planner.

It wasn’t. In fact, it was a great experience. Here’s why:

  • Filling out the financial questionnaire required me to take a hard look at my current situation; important, since I’m 64 and approaching retirement.
  • My adviser, who I genuinely enjoyed talking with, helped me more clearly define my financial goals, as well as the likelihood of achieving them.
  • He offered alternatives I literally hadn’t considered. (Not many, but a couple.)
  • The end result — a solid, but simple, financial plan — gave me confidence that I was on the right path. That alone was worth it.

Bottom line? Even if, like me, you think you know everything, sometimes you still can miss the forest for the trees. An objective, knowledgeable, outside observer can make sure you don’t.”

The thing is, even if you are pretty savvy with your money, hiring a pro once in a while can help you find your weaknesses. And SmartPath makes this process affordable and easy. It’s a move we believe will pay for itself many times over.



If you’re ready to talk to a dedicated financial analyst that can guide you with personalized advice for a more financially secure retirement, you can click here to schedule your free consultation.

Also, If you’ve considered becoming a Money Talks News Member … today is the perfect day to get started!

Right now, when you become a Money Talks News member you get a $60 discount off the SmartPath Retirement Readiness program. This discount alone is enough to pay for your entire membership for a whole year. Plus, with your membership, you’ll enjoy an ad-free reading experience and many more member benefits.

Not interested in a membership, or the discount? No problem, you can still get your free consultation here and decide if the SmartPath program is right for you here.

Disclosure: The information you read here is always objective. However, we sometimes receive compensation when you click links within our stories.

Read Next
19 Purchases That Buyers Almost Always Regret
19 Purchases That Buyers Almost Always Regret

Think twice before buying these things.

17 Amazon Finds Under $20 That Will Organize Your Life
17 Amazon Finds Under $20 That Will Organize Your Life

We’ve rounded up must-have products to help you get your ducks in a row.

The 13 Worst Types of Tickets for Your Car Insurance Rate
The 13 Worst Types of Tickets for Your Car Insurance Rate

Some types of traffic violations can drive your car insurance rate dramatically higher.

5 Renovations That Can Impact Your Home Insurance
5 Renovations That Can Impact Your Home Insurance

Home improvements can affect your home insurance policy for the better, the worse or both.

7 Gadgets Under $60 That Can Boost Your Health
7 Gadgets Under $60 That Can Boost Your Health

These Amazon finds can help ease foot aches, boost energy and even protect your heart.

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Most Popular
9 Things You’ll Never See at Costco Again
9 Things You’ll Never See at Costco Again

The warehouse store offers an enormous selection, but these products aren’t coming back.

11 Things Retirees Should Always Buy at Costco
11 Things Retirees Should Always Buy at Costco

This leader in bulk shopping is a great place to find discounts in the fixed-income years.

Over 50? The CDC Says You Need These 4 Vaccines
Over 50? The CDC Says You Need These 4 Vaccines

Fall is the time to schedule vaccines that can keep you healthy — and even save your life.

11 Household Items That Go Bad — or Become Dangerous
11 Household Items That Go Bad — or Become Dangerous

When you get the impulse to stockpile these everyday items, pay close attention to their expiration dates.

8 Things You Can Get for Free at Pharmacies
8 Things You Can Get for Free at Pharmacies

In this age of higher-priced drugs and complex health care systems, a trip to the pharmacy can spark worry. Freebies sure do help.

11 Senior Discounts for Anyone Age 55 or Older
11 Senior Discounts for Anyone Age 55 or Older

There is no need to wait until you’re 65 to take advantage of so-called “senior” discounts.

7 Ways to Boost Your Credit Score Fast
7 Ways to Boost Your Credit Score Fast

Your financial security might soon depend upon the strength of your credit score.

These Are the 4 Best Medicare Advantage Plans for 2020
These Are the 4 Best Medicare Advantage Plans for 2020

Medicare Advantage customers themselves rate these plans highest.

The 10 Most Commonly Stolen Vehicles in America
The 10 Most Commonly Stolen Vehicles in America

A new model parks atop the list of vehicles that thieves love to pilfer.

The 15 Worst States for Retirees in 2020
The 15 Worst States for Retirees in 2020

Based on dozens of metrics tied to affordability, quality of life and health care, these are not ideal places to spend retirement.

19 High-Paying Jobs You Can Get With a 2-Year Degree
19 High-Paying Jobs You Can Get With a 2-Year Degree

These jobs pay more than the typical job in the U.S. — and no bachelor’s degree is required.

5 Ways to Get Amazon Prime for Free
5 Ways to Get Amazon Prime for Free

Hesitant to drop $119 a year on an Amazon Prime membership? Here’s how to get it for free.

9 Deep Discounts Available on Amazon This Friday
9 Deep Discounts Available on Amazon This Friday

These items are all steeply discounted — but the deals won’t last long.

26 States That Do Not Tax Social Security Income
26 States That Do Not Tax Social Security Income

These states won’t tax any of your Social Security income — and in some cases, other types of retirement income.

10 Reasons Why You Should Actually Retire at 62
10 Reasons Why You Should Actually Retire at 62

If you can, here are several good reasons to retire earlier than we’re told to.

3 Ways to Get Microsoft Office for Free
3 Ways to Get Microsoft Office for Free

With a little ingenuity, you can cut Office costs to zero.

5 Keys to Making Your Car Last for 200,000 Miles
5 Keys to Making Your Car Last for 200,000 Miles

Pushing your car to 200,000 miles — and beyond — can save you piles of cash. Here’s how to get there.

5 Things That Make Life More Meaningful for Retirees
5 Things That Make Life More Meaningful for Retirees

Retirees agree: These are the things that give them purpose and fulfillment in their golden years.

15 Amazon Purchases That We Are Loving Right Now
15 Amazon Purchases That We Are Loving Right Now

These practical products make everyday life a little easier.

View More Articles

View this page without ads

Help us produce more money-saving articles and videos by subscribing to a membership.

Get Started

Add a Comment

Our Policy: We welcome relevant and respectful comments in order to foster healthy and informative discussions. All other comments may be removed. Comments with links are automatically held for moderation.