Over the last 25+ years, we’ve identified five common mistakes
people often make before they enter retirement.
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WEALTH MANAGEMENT
Do any of these sound familiar?
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Clearwater, FL 33759
* This material has been prepared for informational and
educational purposes only.
It is not intended to provide, and should not be relied upon for,
accounting, legal or tax advice. Please consult with a professional
specializing in these areas regarding the applicability of this
information to your situation.
Investment Advisory Services offered through Mutual Trust Asset
Management
MAY/JUNE 2017 | TAMPA BAY MAGAZINE 67
You don’t have a fully mapped
out retirement strategy.
Or, maybe you do, but you haven’t updated
it in the past five years. You know the old
saying: If you don’t know where you’re
going, how will you know when you get
there? Having a strategy in place can help
you know where you’re going – as long as
that strategy is up to date. With fluctuating
market conditions and possible changes to
your financial situation, we recommend that
you review and, if necessary, update your
financial strategy.
You’re living beyond your
means, contributing little or
nothing to the savings you’ll
need after your paychecks stop.
A key to good retirement income planning is
having a budget and sticking to it.
You are under the impression
you will be healthy forever –
and therefore may be ignoring
the cost of health care in
retirement.
Or, at the very least, you’re underestimating
what those costs might be. It’s estimated that
a 65-year old married couple that retired in
2015 will need about $245,000 for health
care costs in retirement.
You aren’t saving enough to
account for inflation.
The value of the dollar is constantly changing
– but you probably already know that from
your weekly trips to the grocery store. These
increases, along with the other potential
impacts of inflation, should be factored in
when planning your financial future.
You haven’t planned for the
possibility of long-term care.
It’s estimated 70 percent of those over 65
will require long term care at some point in
their lives, and the average cost of a private
nursing home room is more than $92,000 a
year!
If you identified with one or more of these,
you’re probably not alone! The good news is,
these are the kinds of issues we help people
address every single day. That’s not to say
your issues are similar to everyone else’s –
because they’re not – but it’s important to
know you aren’t alone.
If you’re looking for a cookie-cutter
financial strategy, you won’t find that here.
We take pride in treating all of our clients
as individuals. So, take that first step in
learning more about us. Once you realize the
necessity for a lifelong financial strategy, we
will gladly sit down with you to start creating
your customized, inflation adjusted and tax
advantaged retirement plan.
The first step toward your financial goal is to
start thinking about it now. Maybe the age
at which you plan to retire is far away, or
maybe it’s closer than you want to admit. It
doesn’t matter. The fact is: People are living
longer than ever before, which means their
savings need to last longer than ever – at least
20, 30 or possibly even 40 years. Saving and
planning for your financial future should be
high priorities. Do you need help with any
of these - or any other retirement planning
strategies? If so.....all you have to do is ask!
Go to: ASKsteveholland.com
Retirement Wealth Advisors www.ASKsteveholland.com
/ASKsteveholland.com
/www.ASKsteveholland.com