What are your plans for retirement? Where will you live? How will you cover your unplanned medical costs? Will you have to support your children? What is your investment strategy? Will your advisor/broker advice be worth the cost? Will taxes and fees destroy your purchasing power? If you have not answered these questions BEFORE retirement, how do you know you can maintain your lifestyle for 30 years? If you plan now, you can add an extra 25% to 50% to your income by using the low-cost and tax-FREE accounts other retirees found very helpful. There are so many unknowns in our futures that we must plan a FLEXIBLE financial future. We can anticipate some expenses but generally, we must plan for a range of possible futures. For instance, if we stay invested in some stock mutual funds to overcome inflation, how can we avoid a prolonged flat market? If we count on fixed income vehicles like bonds or annuities, what will happen if inflation roars back? Most retirees plan for 30 years after working. They keep their lifestyle simple so they can weather these unforeseen storms. If they need to work part time or during retirement, they feel more confident with this supplemental income and a supplemental health plan. If they have not paid off their home, they consider doubling their mortgage payments or downsizing. Most retirees wish they had saved more while they were working and some use a strategy to build their tax-FREE accounts so they have more to spend. Some commit to an investment strategy that assures them of NOT outliving their assets. As you now realize, it is better to have greater assets for that 30 years without working no matter what your retirement ultimately costs. We need to make an investment plan so we can approximate the income from our assets. This may include the fee-FREE and tax-FREE account strategy that maximizes the miracle of compounding. "My wealth has come from a combination of living in America, some lucky genes, and compound interest." Warren Buffett
About the Author: Dan Keppel has been helping people find financial services that fit their lifestyles since working in a securities firm, an insurer, two banks and his own coaching service. His book, The Insiders' Guides to Buying Discount Financial Services: Buy Direct and Save $3,000 Every Year, shows you how, what and where to buy financial products like industry insiders do-directly from the highest rated companies for less. He edits TheInsidersGuides.com and was an adjunct at a local college. He lives in Montclair, NJ with his wife, daughter and two cats, Anu and Katze. The Insiders' Guides to Buying Discount Financial Services: Buy Direct and Save $3,000 Every Year is available at Amazon, Barnes & Noble, Junglee, bookadda, allbookstores, ebay, fishpond, alibris, powells, booksamillion, etc http: //dankeppel.blogspot.com/ http: //www.dankeppel.com/