RETIREMENT: The Before and After

48% of Pre-retirees say their biggest fear about retirement has to do with finances. Do I have enough money? Will I outlive my money? Will I ever get out of debt? Will I be able to afford the lifestyle and health care I want? The volatile stockmarkets, low interest and fluctuating returns on investments create a very scary environment for retirement.

However, after retirement, the money fear disappears for 26% of those who were concerned prior. Great strategies to dealwith that financial fear before retirement could include:

  • radically reducing debt,
  • managing expenses,
  • getting a financial planner and putting a retirement plan in place,
  • increasing savings and investments, or
  • practicing retirement by living on 70% of income and putting 30% aside.

Many studies suggest that those who work with a financial planner have more confidence than those who go it alone.

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