No one knows for certain how long they’ll live, what expenses they’ll have and how much money they’ll need, says Ron Lutes, advice services consultant at Thrivent. Factor in additional uncertainties about future
1. Create a secure income stream.
You need a strategy that, no matter what happens in the market, Lutes says, you’ll have income to help cover your base needs. “One option is a
2. Keep some money in the market.
Social Security and your pension aren’t going to keep up with inflation, and your spending power may decrease. Even in retirement, Lutes says, you need to
3. Create a strategy for extended care & health care needs.
Medicare is a staple of most retired Americans’ insurance for medical expenses, hospitalization and prescriptions. Medicare supplement insurance can fill the gap between what Medicare pays and the total cost of the expense. It’s essential to understand what role each plays and even more important to have a strategy in place to manage any potential extended care or other health care needs.
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With the right solutions in place, you can feel confident knowing you'll have what you need to fund your goals, no matter how long you live. Contact a