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Retirement on the Horizon |
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 If retirement is within sight for you, here are a few tips on panning ahead for those—for many—increasingly active years. When you’re looking at Iretirement planning, come at it from a holistic approach—do some financial planning as well as some planning for how to enjoy this time in your life.
Close to the children and grandchildren? Or someplace warmer, more alluring, or more affordable? After you think about where you might want to live for personal reasons, compute the cost of living against where you live now, and factor the affordability change into your plans. Studies show that those who are most active and involved in something they consider satisfying live the most rewarding retirements. Would you enjoy mentoring a student? Volunteering your time at the church? Embarking on annual “volunteer vacations?” The trick is to think about what will work for you, and to find something you are passionate about. Well before retirement arrives, prepare a plan to make your money last. An important point to consider is the cost of health care in retirement. Many people underestimate these expenses. A recent survey showed that only 12 percent of older North Americans think they will ever need longterm care. In reality, 43 percent of those reaching age 65 are likely to need it. Purchasing a K of C long-term-care insurance policy well before retirement (beginning at age 35-40 as the law permits) keeps the premiums affordable. This is key coverage to help protect your retirement nest egg and ensure the care you need will be there when you need it. Part of what we do in our agency is help families prepare for important life events like retirement. Don’t risk your retirement nest egg due to lack of planning; let’s sit down to discuss your goals and see how the Knights of Columbus can help you get ready for one of life’s most anticipated events: a worry-free retirement.
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