{"id":1043,"date":"2022-09-08T15:49:20","date_gmt":"2022-09-08T15:49:20","guid":{"rendered":"http:\/\/gpswp.com\/bradyassetmanagement-2\/?p=1043"},"modified":"2024-02-02T23:04:48","modified_gmt":"2024-02-02T23:04:48","slug":"eight-obstacles-to-retirement","status":"publish","type":"post","link":"https:\/\/gpswp.com\/bradyassetmanagement-2\/2022\/09\/08\/eight-obstacles-to-retirement\/","title":{"rendered":"Eight Obstacles To Retirement"},"content":{"rendered":"\n\n
\n
\n\n\n\n
The path to the kind of retirement you\u2019ve dreamed about may not be well-marked and neatly groomed. It might be riddled with traps, rough patches, and obstacles. It\u2019s likely that when you retire, you\u2019ll have put in anywhere from 40 to 50 years of work, so don\u2019t let your dedication and success be subject to a financial surprise.<\/strong><\/p>\n\n\n\n Here are some of the things you should consider when working on your retirement strategy.<\/strong><\/p>\n\n\n\n These factors and scenarios can seem a little overwhelming. Where do you start? Who do you turn to with questions? The good news is you aren\u2019t alone. We have experience in helping our clients devise retirement strategies that meet their needs. We\u2019re passionate about our work and we\u2019re committed to the people we serve.<\/p>\n\n\n\n The path to the kind of retirement you\u2019ve dreamed about may not be well-marked and neatly groomed. It might be riddled with traps, rough patches, and obstacles. It\u2019s likely that when you retire, you\u2019ll have put in anywhere from 40 to 50 years of work, so don\u2019t let your dedication […]\n\n
Income<\/h3>\nwhile Social Security may be a part of your retirement strategy, it\u2019s not a be-all and end-all. In fact, Social Security will replace just 38% of past earnings for a person who retires at 65 after working their entire adult life1. It\u2019s vital to devise a strategy that covers all of your monthly bills. Does your strategy take steps to address the other 62% of income?<\/li>\n\n
Life Expectancy<\/h3>\nTurning 65 is a critical year when it comes to planning your financial future. Once you\u2019ve reached 65, you\u2019re likely to live until about age 86 \u00bd if you\u2019re a woman and 84 if you\u2019re a man2. While our ever-increasing life expectancy will give you more time to travel and do all of the things you\u2019ve long dreamed about, it may also require plenty of cash.
\nDoes your retirement strategy provide the funds to maintain your lifestyle for two more decades? If a medical condition changes your lifestyle, will your finances be able to adapt?<\/li>\n\nTaxes<\/h3>\nThe IRS doesn\u2019t stop knocking when you retire, but there are ways to minimize how much you pay.\nWith the right strategy, retirees may be able to put themselves into a tax bracket that significantly reduces their tax burden, regardless of income 3<\/sup>.<\/li>\n\n
Market Downturns<\/h3>\nMarket downturns are inevitable, but you can weather them with a strong retirement strategy. Devising a strategy that factors in market downturns may help leave you with enough money to cover your expenses and increase your peace of mind.<\/li>\n\n
Rising Inflation<\/h3>\nLike taxes, inflation doesn\u2019t go away when you retire. If you aren\u2019t careful, inflation can pick your pocket a little more each year. And remember, core inflation doesn\u2019t even factor in the food on your table or the gas in your car4. It\u2019s vital that your strategy includes money that can grow in a way that keeps up with inflation.<\/li>\n\n
Medicare<\/h3>\nYou may not realize that you have several options when it comes to Medicare. All of these choices affect your level of coverage and your out-of-pocket expenses \u2026 which can have a significant impact on your retirement! It\u2019s important to consider both your cash flow and your healthcare needs when you consider your options.\n<\/li>\n\n
Long Term Care<\/h3>\nMillions of retirees will require long-term medical care at some point, yet contrary to popular belief, Medicare will not cover all of your long-term care expenses. In some cases, it may cover far less that you think5. Yet, with the right strategy, you can keep many of your assets and have long-term care coverage.\n<\/li>\n\n
Losing Your Spouse<\/h3>\nOne of the most difficult topics to discuss when designing your retirement strategy is the near certainty that one spouse will outlive the other, sometimes by several years. In addition to the immense emotional ramifications of such a loss, there can be significant financial implications. A solid retirement strategy includes an action plan that will ensure a surviving spouse retains their standard of living.\n<\/li>\n\n<\/ul>\n\n\n\n
You Don’t Have To Do It Alone<\/h3>\n
\nReach out to us today so we can help you achieve the kind of retirement you\u2019ve worked so hard for.\n<\/h3>\n\n\n\n
\n\n\nWe are not affiliated with, or endorsed by, the federal Medicare program or any other government agency. We do not provide tax or legal advice and you should consult an attorney or tax professional for such advice.\n<\/i>\n<\/small>\n","protected":false},"excerpt":{"rendered":"
Continue Reading <\/i><\/a><\/p>\n","protected":false},"author":1,"featured_media":1023,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[1],"tags":[],"acf":[],"yoast_head":"\n