Director | Certified Financial Planner | Aged Care Professional
Aging gracefully depends not only on how well you are able to cope with the changes that are happening in your life physically and mentally but also how well prepared you are for the financial challenges that will soon be taking place.
Aged care is intertwined with costs that can become overwhelming.
In fact, there are many elderly people and their families who feel burdened by the costs of aged care.
This is why one must never underestimate the financial stress associated with the cost of aged care and that proper and well matched Financial Retirement Planning is definitely necessary.
Financial Retirement Planning is crucial and should be encouraged a lot more rather than ignored. The earlier that one can prepare for his or her retirement the better the financial choices one has in retirement. It also reduces the risk of running out of money before death.
Therefore, preparation is crucial and a longer timeframe to prepare means you will have a solid financial strategy. As a result, you will achieve the financial freedom and security that we all seek in retirement.
Upon reaching the age of 60, there are many things that are still worth planning for. There are a wide-range of activities or life situations that would still tweak your interest even at this point in time.
Based on lifespan research, an average person lives until age 80-82 for males and 83-84 for women.
So it’s definitely imperative that one should have a retirement plan in place for the next twenty years or so after age 60.
By doing this, you can be assured of a smooth transition to old age. You can never go wrong with having a smart financial plan that will help you to sustain the kind of lifestyle that you expect when you get old.
To know more about Financial Planning for Retirement and Aged Care, you can log on to www.verante.com.au or follow us on Twitter and LinkedIn and like us in Facebook.