Continuing on from last week, did you decide what kind of retiree you are? Regardless of whether you think of yourself as the Dynamo, the Philanthropist, the Homebody, or the Adventurer, it is recommended that you start building your strategy early.
Along with newfound freedoms, retirement can also mean confronting uncomfortable topics and scenarios. The most common complaint amongst retirees is that they did not anticipate how derailing long-term care costs could be, nor did they confront the possibility of suffering through a short-term medical situation that would require round-the-clock nurses to avoid having to move into an assisted living facility.
All of this costs money, and if your retirement budget does not contain income for health care needs, your retirement funds can be depleted sooner than anticipated. This is why we often suggest putting some of your money into a financial vehicle that can provide you with an income you can’t outlive. Call us, we’re happy to explain more about such an option. We’re always here to help.