Many people in Seneca, SC, consider retirement planning as a simple process of saving up a specific amount of money for their senior years. While this is the basics of retirement planning, there is much more to consider than this. Registered Financial Consultant Matthew Dixon helps individuals and couples create a customized retirement plan to provide them with the income they need to live their best life.
Unfortunately, common mistakes in do-it-yourself retirement planning lead to problems with finances in the future. Working with Matthew Dixon to create a customized retirement plan eliminates the problem with the three common mistakes people make with do-it-yourself retirement strategies.
Failing to Plan for Future Healthcare Needs
According to various studies done by AARP and other organizations, as many as 40% of people in long-term care are between the ages of 18 to 64 years. Approximately 70% of adults in the United States over 65 will use long-term care facilities, with 20% of those needing the services for more than five years.
Matthew Dixon helps clients in Seneca, SC, to have the insurance coverage and the wealth protection strategies in place to cover the costs of this type of care.
Not Considering Inflation
The rate of inflation varies from year to year, with the anticipation of a slight upward trend over time. While the approximate average of 2% may not seem much, it decreases the actual value of your retirement savings.
Not Creating Income Through Retirement
Creating passive income through investments in retirement is a strategic way to lower taxes and to ensure you have the money required. Working with a retirement advisor creates the portfolio to provide this future income.
