New Retirement vs Old Retirement - 5 Reasons Why Your Retirement Won't Be Like Your Parents' скачать в хорошем качестве

New Retirement vs Old Retirement - 5 Reasons Why Your Retirement Won't Be Like Your Parents'

5 Reasons Your Retirement Won't Be Like Your Parents' and what you can do about it. Download the 8 Steps to Organize & Optimize Your Financial Life: http://bit.ly/OrganizeAndOptimize. Scott Weiss is a Fee-Only Certified Financial Planner. Subscribe to my channel: http://bit.ly/scottweisscfp ******************************************** Learn more about working with Scott at Weiss Financial Group Here: http://www.weiss-financial.com ******************************************** Subscribe to my blog: http://www.mahopacmoney.com ******************************************** Get Social -------------------------------- LinkedIn:   / scottgweiss   Facebook:   / weissfinancialgroup   Twitter:   / _scottgweiss   ******************************************** Video Notes: ---------------------- Feeling a bit stressed about your retirement? Here are 5 reasons your retirement won’t be like your parents: RETIREMENT THEN VS. RETIREMENT NOW Decades ago, retirement was fairly predictable: Social Security and a pension provided much of your income, you moved to the Sun Belt, played tennis or golf, and you lived to age 70 or 75. To varying degrees, this was the American retirement experience during the last few decades of the previous century. Those days are gone; retirees must now assume greater degrees of financial self-reliance. REASON #1 THERE IS NO PRIVATE-PENSION SAFETY NET TODAY At one time, when Social Security was paired with a pension from a lifelong employer, a retiree could potentially enjoy a middle-class lifestyle. In many areas of this country, living only on Social Security does not afford you the same lifestyle you may have had when you were working. Elders who thought they could rely on Social Security to get by have learned a bitter truth, one we should note. We must supplement Social Security with other income streams or sources.(1,2,3,4) REASON #2 CARRYING MORE DEBT We carry more debt than our parents and grandparents did. It is much easier to borrow money (and live on margin) than it was decades ago. Some people face the prospect of retiring with outstanding student loans, car loans, and business loans, in addition to home loans.(3) REASON #3 RETIRING UNMARRIED Some are retiring unmarried. With the divorce rate being where it is, some baby boomers will retire alone. Perhaps they will share a residence with a sibling, child, or friends; that may give them something of an economic cushion in terms of meeting daily living costs. Then again, some married households were single-income households in the 1970s and 1980s, but retirees managed.(3) REASON #4 LIVING LONGER We will probably live longer than our parents did. Today, the average 65-year-old man is projected to live to 91, the average 65-year-old woman to 94. Our parents could depend on the combination of Social Security, pension income, and fixed-income vehicles for a 10-year or 15-year retirement. In contrast, many of today’s retirees will have to try some growth investing to keep our money growing across a probable 20-year or 30-year retirement.(4) REASON #5 NEED TO PURCHASE INSURANCE We will likely have to insure ourselves if we retire before age 65. The national average retirement age (according to a SmartAsset study of Census Bureau data) is now 63. With private health insurance becoming the new normal, that means many of us will have to find some kind of private health coverage if we retire too young to be eligible for Medicare.(5) Sources: --------------- 1.faq.ssa.gov/link/portal/34011/34019/Ar9cle/3736/What-is-the-average-monthly-benefit-for-a-re9red-worker 2. faq.ssa.gov/link/portal/34011/34019/Ar9cle/3735/What-is-the-maximum-Social-Security-re9rement-benefit-payable 3. blog.nsbank.com/re9rement-planning-3/ 4. marketwatch.com/story/how-re9rement-has-changed-in-the-last-30-years-2016-02-16 5. smartasset.com/re9rement/average-re9rement-age-in-every-state 6. This material was prepared, in part, by MarketingPro, Inc. Disclosure: ------------------- Weiss Financial Group is a registered investment advisor. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities product, service, or investment strategy. Investments involve risk and unless otherwise stated, are not guaranteed. Be sure to first consult with a qualified financial adviser, tax professional, or attorney before implementing any strategy or recommendation discussed herein. Insurance products and services are offered through individually licensed and appointed agents in all applicable jurisdictions. The advisers at Weiss Financial Group are not attorneys of a law firm but can provide guidance to the client’s other professionals. Leave me a comment to ask any question or contact me through my website if you'd like to see if I can help you.