Only according to Vanguard’s annual State of Retirement report four out of 10 Americans Are on track to maintain their current lifestyle in retirement.
Retirement expert Bonnie Treichel, founder of Endeavor Retirement and Endeavor Law, and Jamie Hopkins, CEO of Bryn Mawr Trust AdvisorsI believe financial advisors can help increase that figure with two simple, retro tools: pencil and paper.
In his book, Your Retirement SketchbookReleased this week, Treichel and Hopkins offer 125 retirement planning lessons with diagrams.
treichel, which is a frequent speaker at conferences Believes in the power of simplicity while encouraging people to navigate the intricacies of retirement planning laws and regulations.
He said, “Visuals help make complex topics easier to understand; for example, consider the movement of money and the details related to the flow of money for different purposes.” “The visuals (also) make it more fun so people want to engage; while the concept of matching retirement plans isn’t complicated, it’s more fun to see the visual of a garden that grows with water and sunlight (i.e., matching water and sunlight) versus a garden that is barely growing without the employer’s match (i.e., neither water nor sunlight).”
Treichel and Hopkins hope the book will help people discuss the sometimes difficult topic of money “around the dinner table.” But they also see it as a tool for financial professionals. Hopkins, a lifelong advisor and commentator in this field, was inspired to update his estate planning while working on the book.
Both shared their 10 lessons and their sketches money management Reader.