May 6, 2021
With thousands of Baby Boomers retiring every year, we’ve worked with this generation quite a bit and have seen the concerns and worries that they have about retirement.
Baby Boomers are looking at a retirement landscape that is quite different than their parents were facing. Many things have changed over the past decade or two and there are far more uncertainties than before.
On this episode of My Smart Retirement, we’re going to dive into the challenges that are facing Baby Boomers today. We see and hear many of the same reasons for lack of confidence about retirement and it’s important to address these so that retirees and pre-retirees understand that solutions exist.
A few of the things we’ll cover today include pensions slowly disappearing, healthcare costs on the rise, and longterm care needs. Each of these can carry a heavy burden for planning and need to be addressed with a comprehensive approach.
And all of these tie into the main reason that Baby Boomers list for why they have concerns about their financial future and that’s the ability to realize a sustainable income throughout retirement. Social Security has been a primary income source for most people but will it be enough to cover your expenses and allow you to live the lifestyle you want?
We’ll discuss that and the other challenges we’re helping people overcome every day. If you have any concerns about your plan, please reach out and let us help you.
Check out the full episode or use the timestamps below to hear a specific segment.
0:56 – Reasons for lack of confidence
4:47 – Pension worries
6:27 – Working with an advisor
9:35 – Healthcare costs
11:05 – Longterm care needs
16:20 – Mailbag question about Social Security
For more, visit us online at http://flemingfinancialservices.com