What exactly are the aspects of retirement that you should be aware of?
The list is much longer than this, but here are just a few factors that are great to be aware of, no matter your age:
We’ve living longer. The average life expectancy is now around age 79! Being that it’s an average, you may live past this age—which is great—but that also means you’ll need more savings. It also means you may work longer, which can help bump up the potential for savings, too. Either way, it needs to be accounted for when looking at retirement.
Healthcare costs are rising. Healthcare is expensive, and in many cases, is more expensive as you age. All in all, there is also a great deal of uncertainty about the future of healthcare-related costs. For now, it’s likely that you’ll want to plan and save for expensive healthcare.
Work your plan. Successful retirement saving is most effective when you have a plan and when you start as early as possible with those strategies. But, consider how it’s never too late to start planning for your retirement!
Reach out to us for more information on how to create or modify your retirement plan, including how you can overcome common retirement savings obstacles. Give us a call today: (513) 576-1989.
Source: ClientLine Newsletter.