If you dream of retiring before sxhedule, consider this comprehensive list of 13 potential obstacles to early retirement, including ways to eliminate these obstacles.
1. Market Fluctuations: – Volatility in the market can impact retirement savings. You can change ONE thing in your current planning to mitigate this risk by adding protection from market downturns, with this timeless safe haven asset: cash-value equity insurance.
2. Illness or Injury: – An unexpected health issue can lead to loss of income therefore loss of retirement contributions for extended periods of time. There is a simple solution to avoid long periods of income loss, like disability insurance and retirement contributions during disability / unemployment.
3. Insufficient Savings: – Don’t ignore the importance of starting early and saving consistently. We’ll discuss how you can increase your savings by shifting funds currently servicing long term debts, eliminate the debt and utilize those funds towards enjoying life before and during retirement.
4. Lack of Diversification in Assets: – diversify assets to reduce risk. It is easy to focus on only one strategy and forget to spread the risk in your portfolio.
5. Lack of Financial Education: – here you will find educational resources to help with making informed financial decisions.
6. High Debt Levels: – use these proven strategies for managing and reducing debt.
7. Inadequate Emergency Savings: – the importance of having a solid emergency fund can’t be overlooked.
8. Underestimating Healthcare Costs: – we’ll discuss ways to plan for healthcare expenses in retirement.
9. Failure to Plan for Longevity: – solutions to ensure finances will last throughout a longer-than-expected life span.
10. Neglecting Tax Planning: – insights into efficient tax strategies for retirement savings.
11. Overlooking Inflation: – we’ll talk about protecting savings against inflation.
12. Failure to Adjust Lifestyle and Spending Habits: – how to budget and live within means during retirement.
13. Procrastination in Planning and Saving: – we’ll highlight the benefits of early and consistent retirement planning.
With your commitment and my expertise in retirement and financial planning we’ll be addressing these points and find solutions for each. Covering these potential obstacles presents an opportunity for you to retire faster.
What we’ll need: 15 – 20 minutes by phone, zoom or over a coffee, one page financial snapshot, a fact-gathering worksheet and willingness to correct some of the issues that may prevent you from living a financially secure and fulfilled life.
Let’s fix your retirement planning, today!
See my appointment calendar
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