Retirees

Congratulations, you’ve made it! You have been working hard all your life and you have finally made it to retirement…now what? Now is the time to make sure you don’t outlive your assets. A financial professional can work with you to compare what assets you have and what income you will need during your retired years. Depending on your circumstance, you may not need additional support however, you may have a gap that needs to be filled. We can help set up an income stream to make sure you don’t outlive your money and even have the ability to leave a legacy for children and grandchildren.

Living longer is a reality you should be prepared for. Understanding how life expectancy may impact your retirement and health care needs is an important part of shaping your plans. The average life expectancy for a man turning 65 today is 84.³, for a woman that number is 86.6¹. Disability is another important factor to address when retirement planning, the number of disabled men under age 65 is 5,151,000, for women that number climbs to 5,808,000².The financial expense of long term home nursing care can be overwhelming, planning ahead can help you budget for these costs. The annual average annual cost for long term nursing home care is $74,820 3 with an average stay of 2.3 years⁴.

By optimizing your retirement strategy, you can live life to the fullest and spend down your assets while leaving a legacy for your children or grandchildren. Enhancing your plan with tax diversification can help you embrace retirement with confidence knowing that it may be the rewarding experience you envision.

While there is no one investment option that will meet all your retirement needs, taking a broad and diversified approach can help address many of the potential risks. Together we can create a retirement plan best suited to meet your individual needs and goals. To contact us or schedule an appointment please call (516) 394-2514.

¹https://www.ssa.gov/planners/lifeexpectancy.html
²https://www.bls.gov/news.release/disabl.t05.htm
³https://longtermcare.acl.gov/costs-how-to-pay/costs-of-care.html
⁴https://www.cdc.gov/nchs/data/series/sr_03/sr03_038.pdf