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Am I Okay? How to Know if Your Retirement Portfolio is Really Enough

Rockford, Ill. (PRWEB) May 14, 2009 -- Individuals close to retirement that can't sleep at night are asking, "Am I Okay? Do I have enough for retirement?" These individuals may not know all of the day-to-day expenses and lifestyle wants that will come up in their golden years, and they may not be aware of how all of the investments and savings they have made over the years will work together in a portfolio that will last them through retirement.

Savant Capital Management, a fee-only wealth management firm headquartered in Rockford, IL, advises investors to use a thorough calculation tool to help them take control over their portfolios. "A good calculation tool factors in all possible savings a person has, plus future and current income, and then analyzes the person's spending habits to see what kind of money they will need to last through retirement," said Brent Brodeski, Managing Partner at Savant Capital Management.

Savant recently developed their own calculation tool called the Am I Okay Calculator. It prompts individuals to enter all of their accounts, from Roth IRA and pension accounts to stock portfolio accounts. It also uses current income and future income information to make a thorough analysis. But one of the most important details a retirement portfolio may not plan for is the variety of expenses a person has once in retirement.

"A person doesn't only need enough money to pay the mortgage and put food on the table," said Brodeski. "Those going into retirement should be able to maintain or increase the quality of lifestyle they had when they were working, meaning they should still be able to take that vacation, go out to eat when they want to and even leave an inheritance for their loved ones."

Individual's expenses are divided into four buckets:

- Non-discretionary Expenses - Things you must pay for such as food, mortgage, utilities, etc.

- Lifestyle Expenses - Things you pay for to maintain your lifestyle such as a modest vacation, cable service, decent car, dining out, etc.

- Aspirational Expenses - Things you would LIKE to have in retirement like an extravagant vacation, making extra charitable contributions, providing an inheritance, etc.

- Extraordinary Expenses - Things you DREAM of doing in retirement like buying an island, owning a jet or setting up a foundation.

The Am I Okay Calculator is designed to help a person know what money they have stashed away in different accounts, what lifestyle they expect to have in retirement, and then in the end - if the money they have will be enough to keep up with that lifestyle.

Savant Capital Management will show individuals how to use this tool and share their advice through an online seminar titled Am I Okay, which can be downloaded from the Savant website within the coming weeks.

To use the Am I Okay Calculator, log on to www.savantcapital.com/sage and click on Am I Okay?

About Savant Capital Management, Inc.

Savant Capital Management, Inc. offers investment management, financial planning, and family office services to financially established individuals, trust funds, retirement plans and non-profit organizations.

Savant is regularly recognized among the top wealth managers in the United States. Savant was named the top independent advisor in Illinois by Chicago Magazine. Savant has been twice named by Barron's magazine as one of the 100 best independent financial advisors in the United States, and Inc. magazine named the firm as the fastest growing Registered Investment Advisor in Illinois by the Inc. 5000. For the past seven years, Savant earned a place on Bloomberg Wealth Manager's Top Wealth Managers list. Savant also has been recognized as one of the nation's top 100 financial advisors by Worth magazine each year since 1997. In 2006, Savant was included in The Wealth Factor--A Team Approach, a book profiling ten of the most innovative and respected wealth management firms in the nation.

For more information on Savant Capital Management, log-on to www.savantcapital.com.

Savant Capital Management, Inc. is a Registered Investment Advisor. This announcement is only intended for interested investors residing in states in which the Advisor is qualified to provide investment advisory services. Please contact the Advisor to find out if the they are qualified to provide investment advisory services in the state where you reside. Savant's marketing material should not be construed by any existing or prospective client as a guarantee that they will experience a certain level of results if they engage the adviser's services and includes lists or rankings published by magazines and other sources which are generally based exclusively on information prepared and submitted by the recognized adviser. The Adviser does not attempt to furnish personalized investment advice or services through this publication. Past performance is no guarantee of future results.

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