Think back with me for a moment....
How old was your great grandfather when he retired? In most cases the answer is: He didn't retire-he worked until he died! Then your parents came along and the magic retirement age was 65. According to the mortality tables, these folks enjoyed an average retirement period of 8-12 years. Since then, the retirement scenario has changed dramatically! Many people plan on retiring at age 50-55 and the new mortality tables have them living well into their 90's. Most will spend at least one third of their life in retirement! This is why retirement planning is more important now than ever. Not only will you need to save a nest egg to last a third of your lifetime but the price of your dreams are going up also.
Many people work 30, 40 or 50 years in order to enjoy the fruits of their labor. Statistically, most don't make it. Late-life financial problems are hard to fix so planning is crucial. Our job is to assess all risks and potential scenarios in order to insure that we don't get caught off guard. Our process to do this is thorough and ongoing!