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Transcript of Are YOU Prepared? Retirement Planning & Savings › ... · PDF file Increase in...

  • Expect to retire and then become self-employed

    Expect to retire and work a part-time job

    Expect to keep working as long

    as possible

    Plan to follow the traditional retirement model of working full time until a set date

    and then stop working altogether

    Among Those Ages 55-64, % Who Had Not Yet Retired:

    How the Great Recession Impacted Retirement for Those Ages 45 & Up:

    Costs that Could Increase in Retirement:

    Source: Board of Governors of the Federal Reserve, Report on the Economic Well-Being of U.S. Households in 2016. Published May 2017.

    Source: US News & World Report, 10 Costs That Could Increase in Retirement.

    Retirement planning is an essential factor in your overall financial well-being. Work with your advisor to develop a personalized retirement plan that can help you pursue your long-term goals and objectives. Discuss your desired lifestyle, anticipated expenses and how you wish to spend your retirement years. Many retirees expect their expenses to decrease after retirement; however, for most, expenses increase. Here are 10 costs that could increase in retirement:

    21% of Americans have NO retirement savings1

    46% of non-retirees say they will NOT have enough money to live comfortably in retirement2

    8 in 10 workers expect their workplace retirement savings plan will be a source of income in retirement3

    Only 19% of workers and 39% of retirees have tried to calculate how much money they would need to cover healthcare costs in retirement4

    Sources: 1https://www.cnbc.com/2018/05/11/how-many-americans-have-no-retirement-savings.html 2https://news.gallup.com/poll/233861/update-americans-concerns-retirement-persist.aspx 3https://www.ebri.org/docs/default-source/rcs/1_2018rcs_report_v5mgachecked.pdf?sfvrsn=e2e9302f_2 4https://www.ebri.org/docs/default-source/rcs/1_2018rcs_report_v5mgachecked.pdf?sfvrsn=e2e9302f_2

    Multiple Sources Used by Retirees to Pay for Expenses During Retirement:

    Source: U.S. Federal Reserve Report on Economic Well-Being in U.S. Households May 2017

    Are YOU Prepared?

    Retirement Planning & Savings

    Travel

    Entertainment

    Socializing

    Health Insurance Premiums

    Co-Pays & Deductibles

    Prescription Drugs

    Long-Term Care

    Household Help

    Grandchildren

    Taxes

    Average Amount of Thought Non-Retired Individuals Have Given to Retirement Planning:

    Of Non-Retired Individuals:

    A High Amount - 11% A Fair Amount - 16%

    Little to None - 49%

    Investment advisory services offered through CWM, LLC, an SEC Registered Investment Advisor. Carson Partners, a division of CWM, LLC, is a nationwide partnership of advisors. 00453702-R-0619