Retirement Challenges

Many people think about retirement in simple terms.  I work most of my adult life, put money into some kind of retirement savings account, decide on a retirement age and enjoy!  Unfortunately, it’s a much more cumbersome process than that and there are several factors that need to be taken into account before determining your right retirement age and income.  Understanding and properly preparing for retirement challenges is one of many reasons it’s wise to have an adviser to help you plan for this important stage in life.

Several Retirement Challenges

Outliving assets is a major concern for many in or approaching retirement. The combination of earlier retirements and longer life expectancies makes this a challenge you need to plan for.

The second challenge is the reduction in pensions for workers. Even if your pension has survived, it may be threatened.

Inflation is referred to as the invisible enemy because it’s something you don’t see coming. The table illustrates how it can certainly reduce your future buying power.

Inflation 2

Affording healthcare in retirement is a real and growing concern.  And, healthier folks will likely spend more as a result of their extended life expectancy.

Healthcare 2


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