3 Steps You Can Take Today To Protect Your Retirement
- Date: 2010-05-16 - Word Count: 311
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Three Steps to Take Today to Protect Your Retirement.
While everyone is different in some way, there are often common threads that are observable among certain groups of people. One such group is pre-retiree's and retiree's. Here are three common concerns, and solutions, for most in this life stage.
1. Outliving Retirement Savings.
Today, as never before, Americans are spending more time than ever in their "retirement years." However, with this boost in longevity, many people find it difficult to save up for 20 or more years of income needs. If you feel that you might be at risk of running short of retirement income, one of the key tools that you should investigate is a fixed annuity. With the help of an experienced advisor, you can choose the proper type and structure to suit your needs.
2. Planning for the 'Unplanned.'
For many folks entering the retirement zone, unplanned events such as death, illness, or disability loom large as potential thieves of financial comfort. Proper planning insuring against death, illness, and disability is the first priority, followed closely by accumulating an emergency account that is liquid and safe, such as a money market account or other savings account.
3. Recovery from the Recent Downturn
It seems like we have been struggling with the near collapse of the financial markets, and the borderline 'depression' that struck our country just a number of months ago. Nowhere has this been felt more acutely than is the impact to retirement accounts. Now is the time to really wrap your head around proper diversification, risk analysis, and protection from downward pressures on your remaining funds.
Keep in mind that every person is unique, and has unique goals and objectives, and your particular circumstances may necessitate different strategies. If you don't know where to begin, seek out a professional advisor who can help you deal with these very real fears in a logical and financially responsible way.
While everyone is different in some way, there are often common threads that are observable among certain groups of people. One such group is pre-retiree's and retiree's. Here are three common concerns, and solutions, for most in this life stage.
1. Outliving Retirement Savings.
Today, as never before, Americans are spending more time than ever in their "retirement years." However, with this boost in longevity, many people find it difficult to save up for 20 or more years of income needs. If you feel that you might be at risk of running short of retirement income, one of the key tools that you should investigate is a fixed annuity. With the help of an experienced advisor, you can choose the proper type and structure to suit your needs.
2. Planning for the 'Unplanned.'
For many folks entering the retirement zone, unplanned events such as death, illness, or disability loom large as potential thieves of financial comfort. Proper planning insuring against death, illness, and disability is the first priority, followed closely by accumulating an emergency account that is liquid and safe, such as a money market account or other savings account.
3. Recovery from the Recent Downturn
It seems like we have been struggling with the near collapse of the financial markets, and the borderline 'depression' that struck our country just a number of months ago. Nowhere has this been felt more acutely than is the impact to retirement accounts. Now is the time to really wrap your head around proper diversification, risk analysis, and protection from downward pressures on your remaining funds.
Keep in mind that every person is unique, and has unique goals and objectives, and your particular circumstances may necessitate different strategies. If you don't know where to begin, seek out a professional advisor who can help you deal with these very real fears in a logical and financially responsible way.
Related Tags: term life insurance, life insurance quotes, life insurance rates, term life quotes
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