Protecting Your Nest Egg: Sound Financial Decisions for Soon-to-Be and Current Retirees

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Are you financially prepared for retirement?

Most Americans are not prepared for retirement. As the Baby Boomer generation approaches retirement, it’s becoming clear that they do not have enough retirement savings. In fact, the statistics are alarming:

• The average pre-retirement individual (defined as 55-65 years old) has only $136,200 saved for retirement. This does not include pension plans or social security (source: BlackRock).
• The average American will be $500,000 short for retirement (source: TD Ameritrade);
• 48% of Boomers are not on track to afford basic expenses in retirement (source: Fidelity).
• More retiree’s than ever before will be working to 70+ years of age and trying to get by with less (source: TD Ameritrade).

How much retirement savings do you need to retire in Hudson, WI?

The answer to this question is not so simple. First, it depends on the lifestyle you want to live in retirement. 

• Financial experts recommend that a 60-yr old should have 8-times their annual salary in savings to prepare for a comfortable retirement. Based on median U.S, household income of $53,657, this calculates to about $429,256 by age 60. This does not include pension savings and Social Security!

It also depends on your general health now, and in the future.

• The biggest financial factors Baby Boomers fail to consider is the impact of inflation and health care costs, two costs for which most retirees have overlooked the magnitude. A typical healthy 65-year old couple is projected to spend $245,000 on future health care in retirement, a cost that threatens to deplete their retirement savings.

 

IT’S NOT TOO LATE!

There’s still time to turn your retirement savings and lifestyle plans around. Ask yourself these questions:

• Is your equity professionally invested for growth?
• Are you making the most of your tax situation?
• Is your estate protected?
• Do you know how to tap into your home equity to finance your retirement goals?

FREE RETIREMENT FINANCING CLASS!

A panel of local financial, tax, law, and real estate experts will share advice on how to plan for, and protect, your finances as you plan to retire in Hudson, WI. This superstar panel will share their expertise on the ways you can reach your financial goals for your retirement, and time will be allowed for you to ask questions:

Mike Kojonen, Founder & CEO, Principal Preservation Services (Licensed in WI & MN)

Investing for Retirement Years with Tax Mapping and Social Security Planning.

Tim Bergman, CPA, Guinn, Vinopal & Zahradka

Optimizing your Tax Position for Retirement in Hudson, WI

Christine Rasmussen, Attorney, Valley Crossing Law (Licensed in WI & MN)

Estate Planning to Protect your Investments

Lori Wittmer, Sr Mortgage Banker, Lake Area Mortgage/Bank

Best Mortgage Options to Tap Into Your Home Equity

Becky and John Durham, Realtor/Broker, RE/MAX Results (Licensed in WI & MN)

Cost Saving Calculations when ‘Rightsizing’ your Home to Finance your Ideal Retirement Lifestyle

• Date: Tuesday, November 7
• Where: Hudson Library, Room 219 (700 1st St, Hudson, WI 54016 – Get Directions)
• Time: 6:00 p.m. -7:30 p.m.
• Cost: FREE!

Space is limited. Pre-registration is appreciated. Register HERE.

 

 

Durham Executive Group

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Email Us Today: john@durhamexecutivegroup.com

Website: www.durhamexecutivegroup.com

Phone: (651) 231-2191

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