“In any moment of decision, the BEST THING you can do is the RIGHT THING; the next best thing you can do is the WRONG THING; and the worst thing you can do is NOTHING.”
– Theodore Roosevelt
As another year passes by, ARE YOU ON TRACK FOR YOUR RETIREMENT?
Have you spoken with a financial advisor and created a financial plan to ensure that you understand what you need to do today to arrive at your retirement destination on time?
You may believe that as you become older, your expenses would reduce, which may be true to some extent, but it is very simple to underestimate retirement costs until you get there. Significant lifestyle changes, as well as unanticipated bills that arise after retirement, might make this period of your life less than ideal.
One of the most common concerns that retirees face today is underestimating health and long-term care costs. According to a study conducted by Fidelity, a senior couple may require as much as $285,000 in savings for health care bills alone, with prices ranging from $50,000 to over $100,000 per year in the United States depending on the type of long-term care required. (Genworth)
What’s the point?
- Don’t let your plan be ….. no plan.
- Having a plan means knowing what to do when life takes an unexpected turn.
and involves more than just matching a stream of income to monthly expenses.
- TIME is your greatest asset! Don’t let it slip away.
The sooner you start planning, the more likely that you’ll reach your desired goals.