Retirement Security

This very broad term that refers to the level of comfort you have with the resources that are intended to support you through retirement and provide a standard of living similar to what you experienced before retirement. Retirement security used to involve Social Security, a pension from a company plan, 401K and any other savings. However, volatile stock markets, rising unemployment, health care inflation, rising longevity, disappearing traditional pension plans and questions related to Social Security have redefined the traditional sources of retirement security. The question now is can you afford to retire? If so, is the money going to last long enough--especially now that we’re living longer? If you haven’t worked this out yet, consulting a retirement planning professional may help you figure-out things such as what might be a reasonable level of spending, when to start receiving Social Security and how much you need to save.