Pulse Financial Services
ENJOYING RETIREMENT
Retirement can be one of the most rewarding times of your life. But, for many retirees the golden years are tarnished because of their lack of planning and understanding the challenges surrounding this phase in life. Planning for retirement equals enjoying retirement.
Here are some general tips to help your golden years shine.
Maximize Social Security and Pension Benefits
Consider your break even age
Your and your spouse's life expectancy
Your need for income
Turn retirement assets into income
The transition into retirement requires a major change in the way people think about and manage their money. Today's retirees are less likely to collect a pension and with longer life expectancies and inflation, there is much to consider when planning for your bright future.
Withdrawal rates affect investment values. If you withdraw too much money from your portfolio you risk running out of money
Keep pace with inflation
With the rate of inflation, your money saved today might not go as far tomorrow.
Seek to preserve what you have saved
Investing in the market can be a viable way to create retirement income. However, dramatic fluctuations can sometimes mean losing some or all of your retirement money. Choosing products, portfolios and options that diversify your assets can help you weather the ups and downs of the market.
LTC expenses can quickly deplete retirement savings with the average nursing home costing nearly 75k/yr.
Leave a legacy
Minimize taxes and make sure your assets are transferred to your heirs.