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As we start the new year, I want to thank you for being part of the Keen on Retirement community and taking the time to listen to our podcasts and read our blog posts. We are truly grateful for the opportunity to work with you and we look forward to an amazing 2017.
Did you know that only 8% of people actually keep their New Year’s Resolutions? Those numbers are pretty dismal. On the surface, it can make the January tradition of goal setting and personal improvement seem somewhat pointless. Although the data on New Year’s Resolutions isn’t very promising, I have learned over the years that the key is “progress not perfection”.
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.
We can’t avoid aging but we can take steps today to help ensure that we and our loved ones are physically safe and prepared financially and legally for the complications that aging often brings.
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?