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As we near the end of the 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.
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.
At Keen Wealth Advisors, we spend a lot of time helping you build financial security. Yet all that financial security could become secondary when you feel a lump in the breast, the car behind you on the freeway doesn’t stop in time, or you slip on the ice in the winter and your whole world becomes directed to your immediate health care needs. If that happens, your focus turns to trying to get the best medical care possible.
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.
One lesson that was driven home again during the recent 24-hour news cycle surrounding the election was, “Don’t believe everything you read and hear.”
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.