On this episode of Better Money, Eric Hogarth, CFP® and Kara Sundlun talk about a variety of concerns that workers face when it comes to retirement planning. Some major concerns have to do with Social Security, health care, long-term care, and access to retirement plans.
Retirees benefit from some flexibility, therefore should not rely entirely on Social Security. Social Security only makes up a percentage of your pre-retirement income. Other sources of money give the person more control and will allow them to live more comfortably.
It’s not unusual for people to continue working until the age of 65. People in good financial standing will usually work until then or past then to bridge the gap to Medicare; health care can be very pricey to pay separately out-of-pocket.
When it comes to long-term care, plan for the worst-case scenario. Some find themselves spending hundreds of thousands of dollars on care in retirement. Have a conversation about what you might have to do when you’re retired and consider buying insurance to help with costs.
An important question to consider is, “Am I going to have enough money to live like I want to live for as long as I live?” Start with a conversation to find out if you are in a good financial spot and if you are being realistic about how your retirement will look. Another factor to consider is your family and if you would want to leave something behind for them.
“We always felt our financial needs were in very capable hands. Alex Angst is great to work with. Our advisor always made us feel he had our best interests at heart and explained things so we could understand them.”
“We’ve been clients of Johnson-Brunetti for > 10 years. We’re enjoying a comfortable retirement as a result. Many thanks to Joel and our CFP, Eric Hogarth. I wish we had plugged into this decade approach back when we were in our 30s.”
“Working with Johnson Brunetti has had a positive impact on my life by providing me with the knowledge, confidence, and peace of mind to move forward with my retirement plans. The process of getting to this point, through their guidance, has been informative and pleasurable.”
“I view your company as one that puts my interests first. I think that is very uncommon and very refreshing. “
“Matt does an awesome job! So easy to understand and he listens to our concerns and addresses them! happy I chose your firm!”
“I have been pleased with the help and service I have received from the company. I have met several team members on Eric’s team and have found all of them very well prepared to meet with me when reviewing my portfolio. I always feel that I am an important customer and appreciate that very much. I hope the firm continues to focus on the customer and maintains its great service. I think you do a great job for someone like me!!!! I’m happy I chose your firm!”
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