PLAN FOR A LONG LIFE

Achieving your retirement goals takes disciplined saving, spending and investing – all of which can feel overwhelming, especially as the retirement landscape continues to change.  We have created a seven-part blog series called Principles for A Successful Retirement to help you stay focused and reach your goals.

We plan to provide you with one part of the series each week over the course of seven weeks. Last week we provided you with Principle 1 and you will find Principle 2 below.  If you would like to revisit Principle 1 click on this link.  We hope you find the material interesting and useful and urge you to call us if you have questions or concerns.

…… . …… . …… …… . …… . …… . …… . …… . …… . 

Principle 2

PLAN FOR A LONG LIFE

Click for Visual   

The Longer you live, the longer your investments must last. At least one member of a 65-year-old couple now has a 90% chance of living to 80 or beyond, a nearly 50/50 chance of reaching 90 and a one-in-five chance of turning 95 or older. Living longer affects key retirement decisions such as how to make the most of your time, how to invest, when to claim Social Security and whether you might need long-term care.
If you’re in good health at 65 and have a family history of longevity, your retirement plan should conservatively account for 30 or more years of living expenses. That means your investments need to continue growing long after you stop working to keep pace with inflation and reduce the risk of outliving your money.

 

Next week we will send Principle 3 – Make an Informed Decision About Social Security 

 

Comments for this post are closed.