The most important phase of your life that you can plan for is your retirement. Without proper planning and preparation, your golden years could be difficult.
Sadly, as you can read in this article, many people are not even thinking about what retirement entails. According to a Transamerica survey of over four thousand people surveyed, much less than half had any idea of how much they would need.
Retirement planning can seem overwhelming, but the Savannah, Georgia area has many certified financial planners that can help you.
Read on to learn why and how a financial planner will help keep your retirement plans on track.
According to the CFP Board of Standards, it is imperative that you consider all of the important post-retirement issues that will influence your quality of life.
Long-term care is an eventuality that will need to be planned for. With increasing age comes increasing debility and ill health, you need to provide for this.
The medical care you have received through most of your life will not be sufficient as the years pass. You have to set up a geriatric care plan that will keep you healthy well into your retirement years.
After leaving work, your insurance needs will change. You have to figure out how to mitigate new risks and cease insuring against problems you’ve left behind.
How much will you receive from various sources of retirement income? It’s vital to calculate how much you can collect every month, and what you can budget for after leaving work.
The inevitability of estate issues must be thought about. What are your wishes? How will you ensure that they are carried out?
These issues and others particular to your situation are complex. Using the services of a certified financial planner you can navigate these complexities without risking costly mistakes.
Laws and regulations regarding retirement income can be difficult to understand. Even the age when you begin collecting Social Security benefits can influence your monthly income. Drawing down your private pension funds can involve complicated tax laws that can cost you hard earned savings if done wrong.
Use a financial planner who specializes in retirement to evaluate all your options and provide the most financial security. Your planner can tell you if you’ll be able to leave work when you planned. If you started planning late, he can tell you how long you might have to delay retirement, or if you’ll need to work to supplement your income.
Use online sources to find a retirement planner quickly. The searchable database of the CFP Board of Standards is a good start.
The Better Business Bureau has a list of accredited financial planners in your area.
Barron’s compiles a list of top-rated financial advisors in the Corpus Christi, Texas area.
Speak with your choices and find the planner who can help you best achieve a secure retirement.
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