David John MarottaDavid John Marotta is the President of Marotta Wealth Management, a fee-only financial planning and asset management firm in Charlottesville, Virginia. He is an oft-quoted writer and speaker on financial matters and his weekly financial column can be found at www.eMarotta.com
Host: In addition to finances, what issues are important for retirement planning?
David Marotta: Studies have found that financial planning in retirement is one of three areas that needs to be in place for a successful retirement. The finances are actually the easier one to project because you can figure out how long on average you are going to live and you can figure out what safest grow rates are and that is one area of financial planning.
There are two other areas that get more into life planning which is part of your finances. One of them is the importance of your health and wellbeing in retirement and the second is the importance of your social network. Both of these are critical to a long and prosperous retirement.