Planning for Retirement: It’s Never Too Late
The number one question people ask me when they sit down for a meeting is: “How do I compare to your other clients?” People want to know if they are on track for retirement, and if they are in the top 10% for probability of success. Due to increased longevity in seniors and decreased income from social security, planning for your retirements is crucial to living a successful, stress-free retirement. It is predicted that by 2033, retiree’s will only be getting paid 77 cents on the dollar. While that is still money in your pocket, a 23% pay decrease is still a pay decrease. What are your income goals for retirement? What do you want to do with your time? Many retirees want to keep their same lifestyle and income, while also having time and money for travel and hobbies. In order to have the retirement you’ve been planning for and dreaming of, you need to have a plan in place.
Are You Winging Your Retirement?
In the United States, 37% of workers don’t have any type of retirement strategy in place. This means that one in three working Americans have little to no idea what they’ll do when they walk away from their job for the last time. This is where that time-old phrase “ignorance is bliss” really hits home. When it comes to planning, most people don’t want to know if they are failing; they don’t want to know if they are off pace or falling behind. But I am here to tell you, it’s never too late to plan for retirement, and it’s never as bad as you think! Pre-retirees are often surprised to find out that they are more on track than they previously thought. However, just because you are on track now doesn’t ensure you will stay on track. The next step is getting your retirement plans and goals on paper. Having a written plan and strategy is essential to retirement planning because it holds you to your goals and helps to gauge your progress.
Planning for a Successful Retirement.
Achieving your dream of a more secure and comfortable retirement is much easier when you plan your finances. Annuities are one of the best and least utilized ways to help you plan for retirement. Unlike a 401k or a pension plan, annuities give you a reliable income stream throughout your retirement. Annuities are one of the few ways to help guarantee there are no changes in your income throughout retirement, despite dips in the economy or social security changes. Annuities can be a huge benefit to your current retirement funds, and an excellent way to help ensure security through your retirement years. Reach out to a financial advisor to help ensure your retirement dreams become a reality.
If you would like to learn more about annuities and retirement planning, contact Ashton and Associates at email@example.com.