Concerned About Outliving Your Savings?
Americans are living longer than ever and that, of course, means they need more and more retirement savings. According to the CDC, we’re living to age 78.8 on average.1 That’s a lot of candles on the cake.
Using today’s average lifespan as a guide, and knowing your retirement could easily stretch to 30 years, it’s critical that we take three steps to prepare:
- Project when you plan to retire and calculate how much savings you’ll need to support yourself.
- Ensure that you have an asset management strategy to help protect your principal while keeping pace with inflation.
- As you approach or begin retirement, create a carefully thought-out budget that you can realistically stick to.
Increasing life expectancies is very good news. And so is the fact that you, especially by working together, can take steps towards being financially comfortable throughout what could be an extended retirement.
Please don’t hesitate to reach out to address your strategy for retirement.