People of all ages need to be planning and funding retirement. We can’t rely on Social Security to provide 100% of our retirement income. Here are a few tips to help you as you and your family plan out your retirement.
People Are Living Longer
The need to plan for the possibility you may live longer in retirement than you ever imagined. This may require adjustments in spending and life style.
Even at a 2% inflation rate, $50,000 of income today would only be worth $30,477 in 25 years.
Health Care Costs
Health care cost are going up, plan for 5% to 15% increases over time. Also, people will utilize health services more in the last five years of life.
Your health should be considered your most vital investment. After all, it is hard to live a rich and fulfilling life while struggling with serious medical conditions. Having health insurance could help ensure you have the means of receiving the medical care necessary to preventing various illnesses that could negatively affect your quality of life.
Lose Weight – Eat Healthy
The Oregon Department of Public Health reports that 30 percent of the population was obese in 2011. Regular exercise and a balanced diet may be just the ticket for you to reach a healthier weight.
If you stopped smoking today, you would see the first health benefits in 60 days. Insurance is less expensive for nonsmokers.