Lower Your Stress About Retirement
These 3 Simple Questions About Your Retirement Will :
1. Do you have any plan at all about retirement besides social security and/or a pension?
Over half of all Americans have never made any retirement plan whatsoever, and another 23% have never done any sort of calculation on how much they will need to retire. Doing nothing is not a plan, and it is not as difficult as you might think. You don’t have to stress about calculating perfectly for how much you will need, but you just simply need to start. Remember: The earlier you start planning and doing something about your retirement, the more painless it is.
2. Have you done any thinking or estimates on how you will handle health care costs after retirement?
Over 3/4 of Americans have to take from their retirement savings and income to pay for unexpected health care costs during retirement. The trick here: prepare for the unexpected. By simply knowing a few things on how to fill the gaps of your health care coverage after retirement, you won’t need to worry about raiding your retirement savings.
3. Be Honest, Did You Assume You Will Work Steadily Until Retirement?
Over 55% of Americans in a recent poll stated that they plan to work until they are 70 or over and are planning accordingly. However, almost 80% of Americans retire before the age of 64. There is a major disconnect that we have about how and when we actually retire.
So, you answered these questions and are now thinking, “What am I going to do about retirement?” -or- you move on with your day and figure you will deal with it some other time. That is understandable, it is not fun. But it is just like preparing for a test. As long as you haven’t studied, there will be stress. Once you have done the studying, the stress goes away.
And you don’t have to solve all of your retirement problems in one meeting with a professional. Just dip your toe in the water, and start by simply learning about some options.
If you would like to take that first step, please drop me an email, or give me a call. I am Ted Bernstein, and I will answer any questions that you might have. No stress, no pressure, just a simple first step in the process.
Please call me at 561-869-4500 or email me at [email protected]
Also published on Medium.