Many Americans realize the importance of saving for retirement, but knowing exactly how much they need to save is another issue altogether. With all the information available about retirement, it is sometimes difficult to decipher what is appropriate for your specific situation.
Today, we’ll address Retirement Age:
The first factor to consider is the age at which you expect to retire. In reality, many people anticipate that they will retire later than they actually do; unexpected issues, such as health problems or workplace changes (downsizing, etc.), tend to stand in their way. Of course, the earlier you retire the more money you will need to last throughout retirement. It’s important to prepare for unanticipated occurrences that could force you into an early retirement.
More information on your Retirement Portfolio Lifespan
Look for our post tomorrow on Life Expectancy.
San Diego Wealth Management is a boutique wealth management firm dedicated to helping our clients preserve and grow their wealth. We offer a variety of financial services but specialize in wealth management, asset management, wealth transfer strategies, income strategies and providing financial planning services. Please contact us with any questions that you may have.