Let’s face it, it’s hard for most of us to muster up the energy to plan for retirement.
We all dream of retiring. But few of us take the first practical step toward that goal. According to a study by Transamerica Center for Retirement Studies as reported in Forbes, most Americans do not know how much they will need in retirement.
In fact, most of those who think they have saved enough are merely guessing. It is human nature to put off thinking about future issues when today’s issues are – well – here today. But the longer one delays retirement planning, the more dire the potential consequences. As with most concerns, avoidance does not improve anything.
So here goes: estimate your needs for your future retirement using one of the many free online retirement calculators. You can enter a lot of detailed information, but even a broad overview of your situation gives you a place to start. If you need help finding an appropriate calculator or a reputable financial planner, we will be happy to assist.
For more information about estate planning in Orlando, FL (and throughout the rest of Central Florida), visit our estate planning website and be sure to subscribe to our complimentary estate planning e-newsletter while you are there.
Reference: Forbes (December 15, 2016) "Study: Only 10% of Americans Take This Simple, Critical Step Toward Retirment.”