When it comes to retirement planning, couples need to evaluate their financial situation and make appropriate adjustments. Saving for retirement can be a daunting task, but it is possible to achieve a comfortable retirement income. To do this, couples should have a retirement plan that includes a good mix of sources of savings and income. Preparing for retirement requires planning ahead and saving money many years in advance.
Couples should adjust their goal based on the type of retirement lifestyle they plan to have and whether their expenses will be significantly different. It is also important to consult a financial advisor who can adapt a retirement savings goal to their particular situation and help them get on the right path with a savings and investment plan. The good news is that couples can plan the income and savings of two people. According to the Transamerica Center for Retirement Studies, 48 percent of U.
S. workers expect their primary form of retirement income to come from their personal financial assets. My goal is to help couples take the guesswork out of retirement planning or find the best insurance coverage at the cheapest rates. We can determine when their retirement accounts and Social Security payments add up to cover their average monthly retirement income.
Many are now paying more attention to their long-term financial goals and advances, including retirement planning. Even if couples save more than the recommended amounts and plan to apply for Social Security benefits, they may still not have enough to live the life they want in retirement. Working together to achieve similar retirement goals and expectations can help both of them prepare for success.