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retirement pitfalls Archives - Greenwald and Gerke Real Estate

18

Aug
2016

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In Blog

By Ron Greenwald

How to Manage Common Retirement Financial Pitfalls

On 18, Aug 2016 | No Comments | In Blog | By Ron Greenwald

After working for many years towards retirement, it can feel very satisfying to reach a point where you have the financial stability to step away from a full-time career. Many people go into retirement with a positive outlook, only to find that they run into common financial pitfalls. There are many different scenarios that might go wrong with your retirement plan, so it is important that you have the right team to help.

Common Problems with Finances

Even if you have a strong retirement plan, there are a few common problems that might pop up during this time of life. The most common reality is by the time you reach the age of 65, your chances of becoming incapacitated rise to over 50 percent. If you live to be over 80 years of age, this statistic reaches nearly 75 percent.  How is the cost of incapacity going to impact your lifestyle, your family, your quality of life?   Are you  planning for “I will deal with it when and if it happens” or are you planning for the “what is most likely”.

The important thing is to make sure that you have an experienced financial professional by your side to help every step of the way.

Keeping Up with Retirement Strategies

There are three essential steps that need to be considered to ensure that you have enough retirement savings: managing investments to maximize the financial accounts, minimize taxes through proper use of the tax code, and minimizing spending  risk while maintaining the lifestyle that you desire.   Is an annuity really the right investment tool?  Is taking up option trading in your late 80″s a wise idea?  A financial professional can help you with the financial account management. It is important that you work with an experienced advisor before making any big changes to your retirement plan.

Here at Greenwald & Gerke Realtors, we can help you manage your monthly spending by assisting you in the process of finding the right housing solution. Our team offers experienced real estate services for aging adults. We know that many people find it best to move during this time of their lives, and we are here to assist with the process. Call us anytime to learn more about the benefits of working with a real estate team that has experience working with aging adults. You can contact our office at (844) 782-9674

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