Retirement Planning Los Angeles CA
Most people will agree that retirement is the most important life event to consider and plan for however, it’s interesting to note that only about half of U.S. households actually spend any time planning for this most important event. To be able to realize a comfortable retirement can be an incredibly extensive task that requires a commitment to planning and many years of persistence.
Once you have reached your retirement milestone, managing your finances will remain an ongoing responsibility for you and your financial professional. We all want to retire comfortably but most appear unwilling to invest the time, effort, and planning that is required to pull it off successfully. It can, however, be accomplished with fewer headaches and heartaches if you are willing to share the burden with an experienced and committed financial professional who unless you succeed, they will not succeed.
Knowing that a meager 401K account and your Social Security benefits will not support a comfortable retirement planning Los Angeles lifestyle, it makes very good sense to ask for help with this lifelong process. Working with an experienced financial professional allows you to develop a plan or process to run in the background during your life and accumulate the funds you’ll require for retiring comfortably. A semi-annual or annual meeting with your representative of choice should be a lot easier to deal with than personally monitoring your plan on a weekly or monthly basis and having to respond to fluctuations in the market.
Dealing with Worthless Guarantees
By definition, social security was created to be a safety net to provide a basic standard of living. The program, however, is in jeopardy of running out of funds for future beneficiaries as the amount of workers paying into it continues to be depleted. There is no guarantee that the system will be available to you 20 years from now. There is no guarantee with private pension plans either. Corporate bankruptcies can lead to company stock value being wiped out at the stroke of a pen. Does the name Enron ring a bell?
Creating other plans to accumulate wealth is not that difficult, especially if you employ the help of an experienced and reputable financial professional. The power of compounded interest can turn a small monthly investment into a mountain of cash over time, and it will be there when you need it.
Old Age and Medical Expenses
Medical problems and increased healthcare expenses typically go hand in hand with old age. Without a nest egg, living comfortably during Retirement Planning Los Angeles could result in a financial burden that can become too large to bear. This is where long-term care insurance can be a lifesaver if purchased at least ten years before you retire. The Medicare and Medicaid programs are simply not sufficient to meet your needs and protect your nest egg that you’ve worked your entire life to accumulate.
Your financial planner will spend the time necessary to help you consider every need associated with Retirement Planning Los Angeles and wealth accumulation so that you can reap the benefits of your investments and spend your golden years living comfortably rather than just getting by. Retirement Planning Los Angeles