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Leslie Griesdorf: Will You Have Enough Savings to Retire?

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It is important to understand the difference between retirement planning and saving for retirement, especially because once you retire, you will probably need to modify your investment strategies. Below are some of the issues that individuals nearing retirement age should consider.

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Leslie Griesdorf: Will You Have Enough Savings to Retire?

  1. 1. Will You Have Enough Savings to Retire?
  2. 2. It is important to understand the difference between retirement planning and saving for retirement, especially because once you retire, you will probably need to modify your investment strategies. Below are some of the issues that individuals nearing retirement age should consider.
  3. 3. Longevity Longevity has changed the way we think about retirement because overall, people are living longer than ever before. While this is certainly great news, having a longer lifespan requires a change in the way we think about planning and saving for retirement.
  4. 4. Fluctuations in the Market Fluctuations in the market, as well as periods of market volatility, are an inherent part of investing and can have a huge impact on your retirement savings. If a series of market downturns occur as you are about to retire, then you may not have the same luxury of time to recover from losses as you did during your working years.
  5. 5. Inflation Inflation occurs in every economy so focus on how it will influence your future purchasing abilities. For example, the average cost of gas was $0.41 USD/Litre in December of 1998. However, in April of 201, it was $1.06 USD/Litre. Be mindful of how the cost of necessary items will change 15, 20, and 30 years from now.
  6. 6. No one wants to spend his or her retirement worrying about money so it is critical to start saving for retirement as early as possible. It is also important to consider how much you expect to need once you are ready to retire. A licensed financial advisor or financial planner can help you determine how much you will need for your own retirement by discussing your needs, desires, and long-term retirement goals.
  7. 7. In addition, he or she can help you to develop an investment strategy to ensure you are able to live the retirement lifestyle you want while minimizing the chances of outliving your retirement savings.
  8. 8. Follow Leslie Griesdorf http://lesliegriesdorf.blogginger.com/ https://lesliegriesdorf.yolasite.com/ https://www.slideshare.net/drlesliegriesdorf https://issuu.com/drlesliegriesdorf
  9. 9. Thank You

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