Life Expectancy is Increasing. Are You Ready?
Americans are living longer. On average, men who have reached age 65 can expect to live an average of 84 years, while women who have reached age 65 live an average of 86.6 years.
We can thank a variety of factors for our increasing longevity. Advancements in medical technology, knowledge about fitness and nutrition, and access to vaccines and medicines have all played a role in adding years to our lives. Older Americans are also putting more life in those years; many retirees enjoy active lifestyles that may include travel, exercise, gardening and other physical activities among their hobbies.
Longer lives mean a need for income that will cover the additional years. While many retirees have eliminated some of the costs from their working years, living an active lifestyle often creates new expenses to add to the budget.
What next? You’ve done it: You’ve worked hard and saved for your retirement. But now you have questions. How do I make sure the money lasts? How do I cover all my expenses? Will my taxes increase? Will I have anything left to leave to my loved ones?
Today’s retirees are facing unique challenges related to longer lives, increasing health care costs, greater need for long-term care and growing demand to care for loved ones. Understanding the options and navigating the obstacles resulting from these challenges can be overwhelming for many individuals.
We can help devise a plan that addresses your questions and “what-ifs” about retirement. We will work with you to find solutions that fit your unique circumstances, moving you along the path to the retirement you envisioned.
The journey to retirement is a long one. You should start today to help ensure you’ll have enough income tomorrow. Call now to schedule your personalized retirement income analysis and get answers for questions about your retirement. It’s your retirement — make it a great one!
Investing involves risk including the potential loss of principal. Consider your risks and objectives before investing. This is for informational purposes only and should not be construed as tax advice. Consult your tax advisor regarding your specific situation.
Securities and advisory services offered through Madison Avenue Securities, LLC, a Registered Investment Advisor, member FINRA and SIPC. Advisory services also offered through Wealth Management Institute, Inc., a Registered Investment Advisor. Wealth Management Institute and Madison Avenue Securities, LLC are not affiliated entities. Frank Cherniawski is securities registered in: AZ, CA, CT, FL, GA, IN, MI, MO, NC, OH, WA and Advisory Licensed in CA and MI with Madison Avenue Securities, LLC. Please inquire with the advisor about your state prior to further discussion or any decisions.
