Category Archives: Retirement Planning

The Reality of the “New” Retirement

What the survey points out is that pre- and post-retirees continue to need professional advice to make appropriate decisions. Prior to age 65, this means understanding the needs for disability insurance, life insurance and long-term care insurance. After 65, most disability insurance is no longer available, but the need for life insurance to replace lost income continues, as does the need to plan for health care for debilitating illnesses, illnesses which may require care in the home or in a facility.

Will You Outspend Your Income After Retiring?

Social Security remains the primary source of income for all adults over the age of 65. In 2009, households ages 65 – 74 and households with members over 85 received 54% and 66% of their total household incomes, respectively, from Social Security. This should be a heads-up that you need to pay attention to your financial situation and start taking personal financial responsibility. Do you really want to depend on Social Security and family for your retirement?

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