Retirement Confidence?

Americans are an interesting lot. We tend to worry about a lot of things, yet do very little about those worries (so those worries can go away). These Employee Benefit Research Institute latest findings demonstrate this.

You may read the report deeper to see where you may compare:

  • Expected retirement age is getting older.
  • Regardless of that expected age, half were unexpectedly forced into retirement due to health, disability, or job loss.
  • Those already retired expressed higher levels of retirement confidence than those not yet retired (but they too are not completely confident).
  • More than half have NOT tried to calculate what they need to do to retire (yet, this is the easiest part … especially because this is where I may help).

The sections on “Preparing for retirement” and “Expectations about retirement” may provide you insight as to where you fit among Americans in general (and it’s a low bar since most are unprepared or have unrealistic expectations).

You can view more by looking at the “At a Glance” bullet points at the beginning of the report … however, a better tactic would be to evaluate your specific situation.

Are you Lost in the Woods? A Road Map helps you overcome that feeling. People should understand that, rather than worry and fret about something, that taking a sensible look may actually reduce the stress, uncertainty and fear they sense.

 

BETTER YET …

Your Real Numbersshould be individually determined specifically for you and your situation. Trying to use generic calculators (not very obvious assumptions) or rules of thumbs only provide you generic ranges of results. Look instead to specifics with a Top Down approach. As those specifics adjust over time in the future, it is easier to adjust your plan accordingly.

For those already retired, they too worry. About what? Their worry is about the question “Is what I am doing going to last as long as I do?”

Instead, most Americans choose to fret about how events affect them.

I suggest a Road Map helps you navigate events better than going through life blindly. Wash away those worries. It doesn’t take that long in the grand scheme of things to evaluate this and put those worries to rest.

 

About Larry Frank, Sr.

Larry R Frank Sr., MBA, CFP®, is an experienced financial advisor and a published author on Retirement Planning Research. Have a financial question? Click Here to Ask Larry

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