In this week’s episode of Retire Ready Chris Heerlein explains some of the factors you need to account for in your retirement planning strategy.
The biggest risk in your portfolio isn’t the stock market; it’s purchasing power. The cost of groceries, cars and homes are much higher than they were just 15 years ago. If your portfolio isn’t keeping pace, you’ll be in for a lifestyle change shock in the next 10 years.
Rising health care costs are certainly a concern as you look further into the future. Health care costs don’t show any signs of slowing down. With people living longer into their retirement, health care becomes a considerable expense.
Depending on your age, Social Security may not even be a reliable option as part of your income planning strategies. You’ve got to make the determination about if and when you’ll be able to collect. Millennials, Chris says, shouldn’t count on SS as a resource.
You can get your free copy of Chris’ Retirement income planning checklist containing seven little-known strategies for retirement planning by sending an email to firstname.lastname@example.org.
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