The Changing Landscape of Retirement
The retirement landscape is changing. Seniors represent a larger percentage of the population than they ever have before and that figure will continue to rise. Not only are population trends changing, how seniors and retirees spend their time, priorities and dollars will also greatly change in the coming years.
With this shift in senior population and the general increase in life span, the question is: how might this affect retirement planning? For those close to retirement, what issues need to be discussed before leaving employment? For those just starting to plan for retirement, how do these broad issues affect their personal planning?
I advise clients to begin the retirement planning process early rather than wait until a few months before their retirement date. There are many things to consider and the avalanche of decisions are made easier if you have more time to allocate to each area.
For some further insight, Financial Planning Magazine put together the “Top 10 Retirement Challenges,” a handy checklist for people planning retirement and the issues that they will face. http://www.financial-planning.com/gallery/bic/top-10-retirement-challenges-2689899-1.html