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Health care costs are a wildcard for retirees and are only expected to rise due to an increase in life expectancy, a rise in the utilization of medical services, and rising prescription drug costs.
What if you are healthy at 100? Will your retirement savings last that long? We all know how important it is to create a retirement plan and save to ensure that we have enough to last through those Golden Years, but many people haven’t saved enough. Only one in four people aged 55 and over has more than $300,000 saved. Fortunately, most of our clients at Keen Wealth Advisors fall in that “one in four” category and have done a nice job saving for retirement.
Are you sufficiently confused with all of the talk leading up to the election regarding health care coverage? Especially as you approach retirement, do you feel like you have a strong understanding of the Medicare system? Or do you have more questions than answers about what may soon be your primary healthcare coverage?
Most of the clients I work with that are on the glide slope to retirement are relatively well-prepared. Even so, many have a lingering feeling that they’d like to save a bit more before their retirement party. When you think about your future retirement, are you excited and confident? Or do you feel uncertain and stressed? If you’re looking to save a bit more before you stop working to give you greater confidence, start by taking these six steps.
Social Security was originally developed to be just a retirement safety net, but over time benefits grew and the system now covers an estimated 96% of Americans and makes up an average of 40% of a typical retiree’s income.
Did you know that Keen Wealth Advisors sponsors the Big D Cycling team? As a result of our close partnership with Big D Cycling and our active desire to be involved with community events, we are hosting the inaugural Keen Wealth Classic cyclocross race on November 13th. We hope this event will become a midwest staple for years to come and are honored to be able to help get it started