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What You Need to Know If You Intend to Work Longer

May 23, 2017

Filed under: Baby Boomer Generation — Neel Shah @ 9:15 am

Up to two-thirds of baby boomers intend to work beyond age 65. Some of these never expect to retire at all. Some of the most common reasons of delaying retirement or continuing to work after your retirement age include the health benefits sponsored by your employer and the need for additional income. Many people plan to stay involved in their career simply because they enjoy what they do. It is essential to take positive steps towards staying healthy, keeping your job skills up to date, getting further education and networking. It is also important to regularly monitor your projected retirement income need.long term care planning

These could be subjected to long-term care health expenses if you were to have a long-term care health event. It is also essential to have a contingency plan in the event that you’re compelled to retire for reasons other than you expected such as your health. A contingency plan can give you peace of mind that no matter when you ultimately enter retirement, you will have the resources necessary to support yourself.

Many people are forced into retirement earlier than they expected but an estate planning attorney help you navigate this complex situation can give you further peace of mind as well as the backup plan should something happens to you before you anticipated. Looking ahead to long-term care needs and projecting your retirement income are just a couple of the things you can do to protect your future as well as the value of any assets set aside for your beneficiaries.

It is never easy to consider the prospect of what might happen to your if you were to become incapacitated but having all of your legal documents in line makes things much easier for your loved ones.

 

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