Key "What If" Scenarios to Consider in Retirement Planning
Longevity risk is a major concern, as retirees may need their savings to last longer than expected.
Economic downturns or market volatility can impact investment returns and retirement income.
Unforeseen medical expenses, including long-term care, can significantly reduce retirement savings.
Rising costs of living can diminish the real value of fixed-income sources over time.
Planning for wealth transfer, estate taxes, and asset distribution can complicate retirement plans.
Financial support for children or aging parents can impact retirement savings.
Potential changes to Social Security could alter retirement income expectations.
Birthdays Over 50 Worth Celebrating
Before you start planning for retirement, make sure you put these relevant dates in your calendar. Beginning at 50 years old, there are several birthdays that are essential to be aware of as they can influence your retirement timeline and overall financial plan.
How Securenet Can Help Take Some of the Uncertainty Out of Retirement Planning
Wills and Trusts
For retirees, establishing or updating a will or trust helps clarify how your assets will be passed on. Securenet Financial can guide you in creating these plans to reflect your current financial situation and family needs.
Charitable Giving
Many retirees wish to leave a lasting impact on their community or favorite causes. Securenet Financial offers options like charitable trusts or donor-advised funds to help align your giving with your legacy goals.
Life Insurance
As part of your retirement legacy, life insurance can be used to provide for loved ones, covering any remaining financial needs or specific bequests you want to leave behind.
Business Succession
If you’re a retiree who owns a business, Securenet Financial can help create a succession plan that transitions ownership smoothly to the next generation or key employees.
Healthcare Directives & Powers of Attorney
Preparing healthcare directives and powers of attorney ensures your healthcare and financial decisions are handled according to your wishes if you’re unable to manage them later in retirement.
Beneficiary Designations
Ensuring that your beneficiary designations on retirement accounts, life insurance policies, and other financial assets are up to date is a critical part of legacy planning. SecureNet Financial helps retirees review and update these designations to align with their overall estate plan, ensuring assets are distributed according to your wishes.
Uncertainty is part of life, but your retirement plan doesn’t have to be. Schedule a complimentary consultation with Securenet Financial and learn how our ‘What If’ Planning can help you navigate unforeseen challenges with greater confidence.
What is Retirement 'What If' Planning?
How does 'What If' Planning help with financial uncertainty?
How often should I review my 'What If' Plan?
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