The Importance of Planning for Retirement

Some people think that retirement planning isn’t important because they won’t live until retirement.  Consider... Of 100 Men Who Are Age: Their Odds of Living to Retirement at Age 65 Are: 30 84% 40 85% 50 88% 60 94% Of 100 Women Who Are Age: Their Odds of Living to Retirement at Age 65 Are: 30 87% 40 88% 50 90% 60 95% Source:  2001 Commissioners' Standard Ordinary (CSO) Mortality Table; based on composite date (combination of smokers, nonsmokers and smoking status unknown); age nearest birthday Not only will the vast majority of us live to reach retirement at age 65, but with advances in medical technology, we can also expect  to live a substantial number of years after retirement.  Consider... A Man Who Is Currently Age: Has a Life Expectancy of Age: 30 78 40 78 50 79 60 81 A Woman Who Is Currently Age: Has a Life Expectancy of Age: 30 82 40 82 50 83 60 84 Source:  2001 Commissioners' Standard Ordinary (CSO) Mortality Table; based on composite date (combination of smokers, nonsmokers and smoking status unknown); age nearest birthday The biggest financial risk that anyone faces during retirement  is the risk that income will be outlived.   Don't let a lack of planning keep you from realizing your retirement dreams! Disclaimer: The information, general principles and conclusions presented are subject to local, state and federal laws and regulations, court cases and any revisions of same. While every care has been taken in the preparation, we are not engaged in providing legal and accounting services. This information should not be used as a substitute for the professional advice of an attorney, accountant, or other qualified professional.

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