Financial planning is important throughout your life but extremely important during your senior years. From retirement planning to estate planning, there are so many important financial aspects to consider. Not to mention, as you age, your savings and spending patterns begin to change drastically. Living on a fixed income can seem scary, but it doesn’t have to be. At the Senior Learning Institute®, we highly recommend that you plan for your senior years with a financial advisor. Our friend and trusted sponsor, Andrew Ishmael, can help you successfully plan for the future. Here are a few things to keep in mind.
Social Security
Nearly 65 million Americans receive Social Security payments monthly. One of the biggest downfalls to social security is that it usually isn’t enough to cover all of your monthly expenses once you retire. It’s essential to know your benefits as an individual and as a spouse. Talking with a financial advisor about Social Security can help you better understand the program and help you plan for your financial future.
Retirement Planning
There are a lot of financial aspects that go into retirement planning. Taking a deep dive into 401Ks and other retirement plans before you retire can help you plan accordingly. Are your current contributions enough? Do you need to catch up? What medical benefit costs will need to be factored into the equation? A financial advisor can take a look at all of this and get you the information you need.
Estate Planning
Another important aspect of planning for your future is estate planning. Estate planning is a difficult and often overlooked topic, but it is essential. Ensuring that your end-of-life financial affairs are in order and your wills are up to date will give you the peace of mind that you and your family need.
Having a secure financial plan that allows you to stretch your money while doing the things you love in your senior years is important. Andrew Ishmael and his team work in partnership with you to build tailored strategies that address all of your financial needs as life continues. Give Andrew a call at 314-966-1206. You can also see him in person at our next FREE senior seminar. Click HERE to register.