One of the most common questions asked of financial advisors, and specifically Registered Financial Consultants like Matt Dixon, is about the best or the right age to retire.
Unfortunately, this is not a simple answer. Meeting Matt Dixon in Greenville, SC, a retirement planning specialist, is the best way for people in the area to take a close look at the pros and cons of retiring. In this meeting, Matt Dixon will ask questions to gain an understanding of the individual’s goals and plans for retirement, and then help to determine the right place in life to move from working to retirement.
Retirement Savings and Budget
A key factor in determining the best time to retirement is to consider your anticipated budget for your retirement. This includes what you need to live on in the style you want to live, and how much you have in your retirement portfolio.
It is also essential to consider the inflation factor, which tends to be between 3 to 5% percent per year. Over planning for the cost of living provides an additional cushion for retirement, which can help with unforeseen issues and expenses.
Health and Other Concerns
Sometimes, adults in Greenville, SC, have additional factors to consider when choosing a retirement age. They may have health conditions that are impacted by work, or they may be caring for a spouse or loved one with health issues.
In these situations, working with a financial advisor is crucial. These professionals can provide insight into planning for eventual medical expenses, assisted living facilities, or long-term home health care in addition to standard retirement budget items.
Matt Dixon is a recognized Registered Financial Consultant at TruNorth Advisors in Greenville, SC. To schedule an appointment to discuss your retirement age and planning needs, visit us online at website.
