In the U.S., 10,000 baby boomers reach retirement age everyday. These statistics beg the question: If you are nearing retirement age, how ready are you, psychologically and even more importantly, financially for this life event?
Every individual will have different needs and desires for their retirement years. No matter what those are and how they differ, the more clearly you envision your future during retirement and plan before hand to be as prepared as possible, the more you’ll enjoy this phase of your life.
Some of the topics that need to be visited as you get closer to retirement include deciding how you’re going to spend your time and how much money you’ll spend each month. You want to take into consideration gifts, vacations, taxes, and emergencies among others. The cost of health care is a biggie to consider, without an employer no longer paying part or all of your medical insurance. If possible, start boosting your cash reserves before you retire.
A reputable financial advisor is a good person to have a relationship with now. If you have someone you’ve been working with, it’s a good time to sit down together and review your portfolio. If you’ve never had a financial advisor now’s a great time to establish a relationship with someone who can help you understand your options and decide what your needs will be.
At Forest Hills Financial, we’ve been helping people enter retirement gracefully with the means to live the way they most enjoy. We would be happy to help you position yourself for retirement with the greatest of ease.
Forest Hills Financial Inc.