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1. Outliving Your Assets: The odds are that you’ll live a long time after retiring. That’s the good news…the bad news is that you’ll need sufficient assets to provide
retirement income over a potentially long period of time. The alternative is to risk outliving your retirement income. This is where retirement planning is essential!

2.  Inflation: With inflation, the cost of goods and services increase over a period of time, meaning that you’ll need more retirement income in order to keep pace with
inflation. Again, you should anticipate this inflation and ensure you have sufficient funds to cover inflation costs during retirement years.

3.  Loss of a Spouse: With longer life expectancies and the tendency to marry men older than they are, women can face a dramatic decline in retirement income at a husband’s death. Be sure to take a financial inventory and make a list of the retirement income sources that will be available before and after the death of each spouse.

4.  Healthcare Expenses: While Medicare covers many healthcare expenses, retirees need to be prepared to pay for Medicare-related premiums, as well as expenses Medicare doesn’t cover. If you’re planning to retire prior to age 65, you’ll need a way to pay for healthcare expenses until you become eligible for Medicare.

5. Long-Term Care Expenses: While there are a variety of long-term care services, ranging from care in the home to assisted living facilities to nursing homes, all of them are expensive. If you or a spouse need long-term care, how will you pay for it?

Your Safe Money Kit These risks can be scary. But, planning for retirement doesn’t have to be something you navigate alone. Start with our free SAFE MONEY kit to determine how ready you are to retire. Then, allow me to help you navigate your retirement planning so you can keep your money safe in your retirement years.

Contact me at (866) 471-7233 for a free consultation.