#1 Planning -10 Things You Need To Know To Plan Your Retirement Income
#1 Of 10 Things You Need To Know To Plan Your Retirement Income
Plan for a long retirement: A man turning 65 today can expect to live until age 84.3. A women turning 65 can expect to live until age 86.6¹. One out of every four 65- year-olds will live past 90 and one out of 10 will live past 95. WOW- planning income for up to 30 years can be quite a sum of money. If you are interested in calculating your exact life expectancy click here.
Have a backup plan: Social security was never meant to be the only thing that you live on. It’s important to start planning ahead and saving your money when you can so you are not only relying on your social security check.
Check in frequently: Retirement is a big transition that you will go through and your needs may change pretty frequently. You need to make sure to pay close attention by doing regular reviews and regular discussions.
Sustainable income that is guaranteed for the rest of your life, however long that may be, is more important to focus on than growth or balance of your money. This is just one step in planning your retirement, make sure to contact our office for help for your personal situation.
Catch Bruce Porter’s show Dollars & $ense Tuesdays at 3pm on KOLR’s Ozarks Live
1- https://www.ssa.gov/planners/lifeexpectancy.html Accessed 2/23/18
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