Planning for Retirement
At some point, everyone wants to retire. However, when you retire and what your retirement looks like is different for each person. You might want to retire at age 40 or 70. You might want to travel extensively or take up a part-time job as a passion. Whatever your goals, you can achieve them if you plan accordingly.
Your BB&T Wealth advisor will help you pinpoint your retirement vision and chart your course to achieve it, adapting along the way to keep you moving forward.
Where are you on your journey?
It’s never too early to start saving for retirement, and the sooner you begin, the easier it is to reach your goals.
- Manage everyday finances wisely—it's simple with all BB&T has to offer
- Create small, actionable savings goals and budgets in U by BB&T
- Take advantage of your employer’s retirement plans—such as a 401(k), 403(b), and 457—especially if there's an employer match
- Understand your investment options such as Vantage IRAs and CDs, mutual funds, annuities, ETFs, managed portfolios and more
Keeping your focus on long-term financial goals requires consistency, flexibility and planning.
- Develop a comprehensive financial plan with your BB&T Wealth advisor and Financial Planning Strategist
- Revisit your plan, especially as life events such as marriage, children, new homes, and changing jobs occur
- Meet with your BB&T Wealth advisory team regularly to monitor progress towards your retirement goals
- Continue to contribute to your 401(k), Vantage IRA or CD, Vantage IDA and other savings vehicles
As you approach retirement, it’s critical to finalize your retirement strategy.
- Decide when you want to retire
- Define what lifestyle you want to enjoy
- Understand what income you need and expenses you should expect—from daily living expenses to health care and long-term care costs
- Ensure your investment allocation and risk management options provide the income and security you need
Taking control of your financial situation during retirement is essential to maintaining your lifestyle and preserving your legacy.
- Compare your expected income and expenses versus the reality of your retirement
- Revisit your plan and make any appropriate changes as life events occur—both expected and unexpected
- Continue to evaluate your sources of income and investment allocation
- Plan your legacy and transfer of wealth to the next generation
Ready to take the next step?
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Comprehensive financial planning
A strategy designed just for you that considers all of your personal needs and business plans.
With the Vantage Suite of Services, your accounts are integrated to make your financial life as convenient and rewarding as possible.
Mortgages, lines of credit and customized lending solutions can be powerful monetary levers to support your overall financial strategy.
The appropriate insurance coverage can safeguard your assets from unexpected disasters and preserve your wealth for future generations.
Retirement and investing
A detailed plan and customized investing strategy will position you to meet your short- and long-term goals.
Trust and estate planning
You can leave an enduring legacy that protects your estate while supporting your philanthropic interests.
Managing personal wealth
Handle everyday finances, prepare for life events and protect your wealth to achieve your financial goals.
Optimizing business wealth
Grow your business, protect its value, and make a transition plan.
Shape a legacy by protecting your assets while giving back.