3 Things to Consider Before Retirement

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Retirement doesn’t work like it used to. In fact, your own retirement might look nothing like your grandparents’ or even like your parents’. There are entirely new challenges and solutions to consider, including these three things:

  1. Are you prepared for rising healthcare prices?

The prices of healthcare have been rising, and as individuals reach retirement age, they are finding themselves unprepared to deal with this increase in price. Just like you can’t always prepare for changing healthcare costs, you certainly can’t prepare for all of the medical expenses you might incur down the road. As you prepare for your own retirement, be mindful of how the price of healthcare, future medical expenses and Social Security benefits might all impact your plan.

  1. Can you support your adult children, and are you going to?

Many studies have shown that a large percentage of parents have, in some way and at some point, provided some form of financial support to their adult children. This could include assisting as they buy their new house or offering financial help as they prepare to transition to a new job. As you prepare for your retirement plan, it’s important to consider if you’re going to offer financial support to your adult children, and how much.

  1. Do you have life insurance?

In the unfortunate event that something happened to you, would your spouse, partner and family be financially secure? In many cases, the answer is no. Life insurance gives you and your family the peace of mind of knowing you are financially secure, no matter what.

 

One of the best ways to prepare for your retirement is to speak directly to a retirement advisor. And to learn more about the insurance policies that will guide you safely to and on the road to retirement, call us.