Many people who are looking ahead to their retirement may miss out on the fact that increasing longevity numbers show that once you have retired from the workforce, you may be spending as many as 8,000 days inside retirement. This means having an appropriate estate and retirement plan to guide you.
Because people are living longer and staying healthier, it is not unlikely for someone in their mid-sixties now to enjoy a life expectancy of as many as 30 more years. There are many different opportunities and challenges that come prevalent with these concerns.
You may be thinking about how you intend to spend your days, and hopefully, you will already have retained the services of a financial advisor and an estate planning attorney. There are road maps out there of what to consider one year before retirement and five years before retirement.
Having a comprehensive financial plan that incorporates all of the assets you have worked so hard to save over the course of your lifetime, as well as what you might need to do in the event that you become incapacitated or need the assistance of a nursing home is very important.
There are many different concerns that should factor into your budget, including taxes, Medicare, social security, estate planning, insurance, and long-term care. Scheduling a time to consult with an experienced estate planning attorney is the first step towards guarding all of the assets you have generated