Retirement cash flow planning is the process of forecasting your income and expenses during retirement to ensure financial stability. It involves calculating expected income from pensions, savings, investments, and other sources, and comparing it against anticipated expenses.
The amount of cash flow you need to retire comfortably varies based on your lifestyle, location, and personal goals. A common guideline is to aim for a retirement income that's about 70-80% of your pre-retirement annual income.
Whether you need a financial adviser depends on your comfort level with managing your finances and the complexity of your financial situation. If you're unsure about making investment decisions, planning for retirement, or navigating tax laws, consulting a financial adviser can provide valuable insights.