Everyone has different goals for retirement, but the most common one is reliable income so you can live the life you want.
Ensuring you have a consistent source of income will allow you to maintain your lifestyle in the future if you change how much you work. In retirement, it’s important to go beyond accumulating assets and to understand how a stream of income provides you with freedom and stability. Building a portfolio of tools now that will generate the income you need later is an important part of retirement planning.
In addition to generating income, you may want to consider things that might disrupt your plan, such as health-related expenses. There are solutions you can put in place that can help you be prepared to cover these events and protect you and your loved one's lifestyle.
It's never too early to put a plan in place that will help provide income for the rest of your life, even if you have a few years until retirement. Remember, in retirement if you've got income, you've got it all.
Your lifestyle in retirement is driven by the income you'll have
Not by how much money you have in the bank.
The more bills you have, the less income is left
If you start paying down what you owe now, you’ll have more spending money in retirement.
Taxes can disrupt your finances in retirement
Everyone should consider speaking with a tax expert as they prepare for retirement.
Health events can disrupt your lifestyle
Consider long term care insurance to help protect your assets and your loved ones.
Consider what you want to leave behind
Having life insurance even at older ages can allow you to give back to your community and family.
Many people planning for retirement combine a few products to best address their financial needs.
It's always useful to learn a little more. Take a look at these helpful links.