The Fear of Retirement

Do you fear retirement?

What do you fear the most about retirement?

Here are the most common retirement fears with good solutions.

#1: Not  having   enough   income   and  savings   in retirement

This fear begs these concerns and questions:

• How much income will you need to live on in retirement? Will it be enough?

• Will you outlive your income, savings and assets?

• What will your healthcare expenses be?

• Will my family be able to afford to pay off any remaining debts, taxes and my burial when I pass away?

• What if taxes go up? Based upon the evidence, taxes may increase.

• What if we have high inflation?

• What if the Stock Market crashes…again?

• Will you be prepared?

#2: Suffering from a major health, medical, physical or mental issue

This fear begs these concerns and questions:

• Will you suffer a significant health crisis/event?

• Will you need Long-Term Care assistance?

• If you can’t take care of yourself, then how will you be taken care of and by whom?

• What if you end up in a coma or vegetative state?

• Are your affairs in order?

#3: Death

This fear begs these concerns and questions:

• What if you die prematurely?

• Will you suffer?

• Do you have your “Final Arrangements” in order? Do you have an Estate Plan? Most people don’t.

- Do you have a Will and Living Will?

-  Will you be buried or cremated?

-  Where will you be buried? Have you secured a burial plot?

-  Will your family be able to afford to pay off any remaining debts, taxes and your burial when you pass away?

Solution = A Health & Wealth Protection Plan

What income, assets and savings will you have upon and in retirement? You’ve likely worked hard for all your life up to this point. Now it’s time to make sure these are all protected. You can help protect them with the appropriate plan and insurance for your existing needs, desires and economic standing.

• Solutions for wealth =

- Protect your income, assets, and savings with the proper insurance products.

- Work with me to set up the proper health and long-term care insurance for your unique needs in order to protect your assets and savings. See more below.

- Protect your income for your basic necessities (housing, utilities, food, etc.) with a properly structured annuity.

- If you haven’t yet retired, then speak with a CPA or Financial Advisor about maximizing your Social Security Income and minimizing your taxes. If you have retired, still speak with a CPA or Financial Advisor about minimizing your tax burden. You may be able to transfer taxable income into a non-taxable asset or insurance.

- If you have significant assets and savings in Retirement Accounts and the stock market, consider speaking to your Financial Advisor on how to best position these resources. There’s no reason you can’t continue to benefit from market gains even in retirement. You can transfer a portion of these assets into either or both a Long-Term Care policy and a properly structured annuity.

• Solution for health =

- Medicare + Secondary Insurance or MAPD

- Long-Term Care (LTC) Insurance to provide for in- home or nursing home care

- Critical Illness plan for health crisis (heart, cancer, etc.)

- Secondary health insurance

- Dental

- Vision

- Hospital Indemnity

- Short-Term Care

- Have a plan for your care if you can’t take care of yourself. Speak with your children about this.

• Solution for death =