Many people underestimate the "costs" of retirement, both financially and emotionally:
- 47% of Americans leave the work force earlier than they planned
- Only 44% know how much they will need for retirement
- 53% have saved $25,000 or less for retirement
A significant life change, retirement is comparable only to divorce or death of a spouse in terms of the impact it has on one's life. Retirement is considered a more challenging transition than getting married or becoming a parent.
And thanks to the miracles of modern medicine, average life expectancy has increased. Today's retired adult typically lives 20-30 years in retirement, nearly a third of their lifetime.
The team at BCR Wealth can help you plan for tomorrow today. From determining what you will need to retire to developing an asset allocation strategy for investments, we can help make the transition to retirement easier. Once you are retired, we can assist with budgeting and determining the proper strategy for withdrawal from your various retirement income streams.
At Berk Cleveland Rathmell Wealth Strategies, we know that the best way to transition to a meaningful retirement life is to plan for it. Let us show you how.