Financial Well-being: Your Retirement Roadmap

Financial Well-Being: Your Retirement Roadmap

  • Jay Lindner, COPEC
  • March, 2018
  • Financial Wellness
Will you have enough to retire comfortably? Americans are living longer, healthier lives than ever before. In fact, for some of us, retirement will make up for a full third of our lives. This makes your retirement planning essential.

Will you have enough to retire comfortably?  Most of us imagine retirement as a happy time, a reward for a lifetime of hard work, full of possibility and potential. We have good reason to see retirement in a positive light. Americans are living longer lives than ever before. In fact, for some of us, retirement will make up for a full third of our lives. Of course, this means that our retirement assets will have to do more for us over a longer period of time.  This makes planning for our retirement essential.

 

For those approaching retirement, we must consider many components of financial planning and see to it that they all work in concert with each other to provide confidence and security throughout our retirement years.  Components of financial planning, such as Expense Management, Long Term Health Care, Medicare, Social Security, State Pensions, Retirement Savings, Taxes and of course Estate Planning are all crucial.  Each of these important issues holds a valuable piece to a successful retirement and making sure they are considered and applied equally to a comprehensive plan is critical.

 

How to put together a retirement roadmap:

 

  • Realistically visualize the retirement you would like to attain
  • Factor in what may influence when you should retire and how long your retirement could last
  • “Crunch the numbers” by estimating your retirement expenses and retirement income, while factoring in inflation and taxes
  • Use tax-advantaged savings vehicles like IRAs, 403(b)s and 401(k)s
  • Consider risks that can negatively impact you reaching your goals, such as unexpected expenses

 

As a partner of The Ohio State University Wexner Medical Center and a provider to Your Plan for Health, we are helping the greatest university on earth promote better health and wellness – one plan member at a time.

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If you want to learn more about the Health Plan, we would love to hear your questions, comments, and suggestions.

If you want to learn more about the health plan we would love to hear your questions, comments and suggestions.

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ADDRESS:

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Columbus, OH 43202

EMAIL:

info@osuhealthplan.com

PHONE:

614.292.4700
or 800.678.6269

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