Comments on: Financial Planning for Seniors

By: Honest Debt Settlement

Honest Debt Settlement — Sun, 09 Aug 2009 01:55:34 +0000

yes, when you really think about it, a generation ago, people were only expected to live 5 to 10 years after retirement. Now people are living 2 to 3 times as long after retirement, and many individuals do not have retirement plans that are any different than their parents.

The next 10 years are going to be very interesting because the baby boomers are hitting “retirement age” but very few of them can actually afford to retire. Many of them are losing their homes now that the housing bubble burst, and have taken a huge hit when the market recently tanked.

I can’t imagine how many hundreds of thousands of people in this country are currently in their 60’s, recently lost their home, and don’t have enough money in the bank to even last a year.

Back in the day, most people had their houses paid off when the retired, now we are looking at a very large portion of people that are going to also have to account for a housing expense into their retirement cash flow.

By: carrol@digital photography

carrol@digital photography — Tue, 21 Jul 2009 12:55:12 +0000

I never understood how financial planners said you need 75% of income to retire. I always thought you would have to have same amount or more money because of medical cost. I know you spend less for travel and work when you retire but the other cost keep going up. It is better to be safe and save more so you never run out of money.

By: Detox foot patches

Detox foot patches — Sat, 11 Jul 2009 20:10:22 +0000

It’s a useful post.. Nicely explained..

My suggestion is to start planning for retirement from young age itself and to work out the retirement calculations to know how beneficiary it can be in future for u and for ur family..!

By: Charles Adam Kinser

Charles Adam Kinser — Wed, 08 Jul 2009 19:29:11 +0000

Great blog…this was very informative. I agree, most people would have never guessed that they would live long enough to feel the pressures of this economy. Between diminishing social security benefits and healthcare benefits, staying healthy later in life has become extremely expensive, almost unaffordable.

Again, great post!!

Best Wishes.

By: cheap@web hosting

cheap@web hosting — Wed, 17 Jun 2009 04:10:58 +0000

I see alot of people who do not realize how fast thier money will go down if they take over 5%. I think most should try to find some income producing products and try to live off that income and not touch stocks unless they need to.

By: Best etf funds list

Best etf funds list — Wed, 03 Jun 2009 15:35:45 +0000

I see alot of seniors say they never thought they would live as long as they have now. they are in good health and could live another 10 to 15 years. Most people never thought about how fast medical cost would rise and that means they have less money to live off every year. Best etf funds lists last blog post..Bond etf.

By: Rosetta

Rosetta — Tue, 10 Feb 2009 15:41:44 +0000

Great blog especially for the younger generation to take note and prepare for their futures, as alot of retired people today are finding that their pensions just does not meet their needs and are struggling.

By: Data entry employment

Data entry employment — Fri, 28 Nov 2008 17:50:38 +0000

I found your post very informative. This topic has always been a headache for my parents, anyway, thanks for sharing this information with us.

By: Zac

Zac — Wed, 26 Nov 2008 16:40:06 +0000

Brilliant blog, informed me well for some pretty important decisions i have to make in the not too distant future

By: financial planner

financial planner — Wed, 29 Oct 2008 21:18:56 +0000

Its important that people understand where they are headed. A lot of times we don’t think of the future because we fear it. Thanks for the read.