3 Major Retirement Hazards to Avoid
Retirement can mean the beginning of a new life. Here are a
few common dangers to avoid.


Retirement planning is a tricky process, and one that requires careful planning and patience. But even if you
have a retirement plan and a clear set of visions and goals, not just financially, but for your lifestyle, it’s
important that you be aware of several common missteps that many, even those with a plan, fall victim to.

1 - Underestimating the Costs of Healthcare

       As health care costs  continue to rise dramatically, employers are also shifting more weight of the
      costs onto their employees. Many companies are beginning to drop retired workers from their health
      plans, and on top of that, millions of Americans have no form of coverage at all.

      So one of the most common mistakes made in retirement, is a lack of
      preparation for the financial impact of your health. One of the most overlooked
      and most expensive costs is long-term healthcare. Long-term health costs
      can be devastating to a financial plan,  so buying long term care insurance
       early on can help lower its costs immensely.

2- Misjudging How Long you or your Spouse Will Live

       A common assumption is that you should have enough retirement assets to
      last you until your life expectancy is reached.

      But today, the world is an ever-changing place. As medical technology
      increases along with life expectancy, the odds are good that at least you or
      your spouse will live past age 90. So it’s vital that you are prepared to live
      longer.

3- Presuming you’ll Work a Long Time

       Your generation is famous for working long, hard and abnormal hours to get
      ahead. And most baby boomers agree that they’ll be working long into
      retirement. But that can be one of the biggest retirement mistakes you make.

      As of now, the average age of retirement in America, is 62. According to the
      Employee Benefit Research Institute Retirement Confidence Survey of 2007,
      among retirees who had to leave the workforce earlier than planned, 28
      percent did so because of disability, 28 percent because of layoffs or
      corporate restructuring and 25 percent to care for a spouse or family
      member. So even if you want to work as long as you can, it may not always
      be possible and it’s vital that you plan and save for such a scenario.


Retirement could be the beginning of many great years. Working with a financial
professional and having the proper plan in place is a key part of retirement. You should also keep an eye on
healthcare costs and stay informed on issues that will effect your retirement. You should always be focused
on your plan and be aware of some common pitfalls. That way, you can be prepared to make the best years
of your life as good as they can possibly be.
Robert Valentine, Ca. Insurance License# 0C23496, is a Registered Investment Advisor Representative with Financial and Retirement Management, a Registered Investment Advisor and a
registered representative with Securities America, Inc., a Registered Broker Dealer. Securities offered through Securities America, Inc., Member NASD/SIPC. Financial and Retirement
Management and Securities America are not affiliated. This site has been published for residents of AZ, CA, FL, IL, MI, MO, and TX. All information herein has been prepared solely for
informational purposes, and it is not an offer to buy or sell, or a solicitation of an offer to buy or sell any security or instrument or to participate in any particular trading strategy. Financial
and Retirement Management does not make any representations or warranties as to the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any
unaffiliated third party, whether linked to this web site or incorporated herein, and takes no responsibility. All such information is provided solely for convenience purposes only.  
Financial and Retirement Management and Securities America do not endorse, control, or receive compensation from any of the third party advertisers within this website. Neither
Financial and Retirement Management or Securities America are affiliated with any of the firms or entities listed unless specifically stated.
Copyright © 2006 The Money Alert.com. All rights reserved.
The Money Alert