Retirement Planning,

Essential Considerations In Setting Retirement Financial Needs

Most individuals working with Matthew Dixon have concerns about their ability to meet their financial needs during retirement. Unfortunately, many individuals and couples in the Seneca, SC, area fail to plan adequately for their retirement needs.

Not having the money needed to enjoy retirement is both frustrating as well as challenging. It may result in the need to sell the home and downsize, or to forgo a long-anticipated trip or a dream vacation.

Working with Matthew Dixon allows the development of a clear picture of retirement financial needs. Some of these essential and often overlooked financial considerations include:

  • New expenses – parents may choose to pay for college tuition for one or more children or grandchildren, to purchase a new dream home, or to make another large type of purchase such as a motorhome or a summer vacation place. These new expenses can be built into a retirement plan, but they are difficult to fund as a last-minute expense after retirement.
  • Health issues – as people age, health issues become a factor. A history of specific medical conditions in a family should be factored into setting aside a medical fund to use in the event of any health issues.
  • Longevity – having an understanding of expected longevity is essential to plan for retirement. The earlier you retire and the higher your longevity rate, the more money required to live comfortably.
  • Risk levels – as a top financial advisor, Matthew Dixon talks to clients about risk levels with various investment options. As a general guideline, the closer people get to retirement, the lower the risk should be on investment.

Retirement planning can start at any time in life. Anyone in Seneca, SC, can start a retirement plan, and working with an expert financial advisor maximizes the ability to grow your retirement nest-egg.



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