Will I have enough money to live comfortably for the remainder of my life?
How will inflation impact my retirement?
How will taxes affect my future retirement income?
How long will my money last in retirement?
People face many financial challenges today. Low interest rates, volatile stock markets, increasing life expectancies, uncertainties of Social Security and fears of higher inflation and tax rates have made planning for retirement a daunting task. In addition, news reports on our economy, national debt and homeland security raise fears about our well-being and future financial security. Many today are scared, confused and unsure of how to invest to provide themselves an income that will last as long as they do and that will keep pace with the rising cost of living.
One of the greatest challenges people face today in retirement is longevity. People are living longer due to advances in medical technology. In 1900, the average man was expected to live to age 46. In 1936, the average life expectancy increased to age 63. Today, a married couple age 65 has a 40% chance that one spouse will live to age 95. (1) Investing for a retirement that could last 20 to 40 years requires a lot of money and careful planning.
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