Top 5 Retirement Challenges


Retirement means no pressure, no stress, no heartache…unless you play golf.”Gene Perret

Retirement. You can ask 10 different people how they would like to live out this important time in their lives and get 10 different answers. Some see it as an opportunity to travel around the country or the world. Others are driven to use the extra time to work on their golf games.

Though people have different ideas about how they want to live out retirement, they actually share very common concerns on how to prepare for it. Here are the top 5 challenges of today’s retirement planners:

  1. Will I outlive my financial resources? The good news is that people are living longer and healthier lives. In fact, the average life expectancy in the United States is 80.1 years. While that’s great news, it does pose a burning question for today’s savers: will they run out of money?
  1. Can I obtain and afford quality health care insurance? Health insurance is a concern for many people – even while they are working – so it’s not surprising that potential retirees worry about how they afford it when they cease working.
  1. Will Social Security and Medicare be there for me during my remaining years? Ensuring these entitlements remain available is one of the biggest concerns the United States faces. And with nearly 10,000 baby boomers approaching retirement, the future of these benefits will be greatly challenged. The Social Security Administration (SSA) Retirement Estimator get help you get a sense of the benefits available to you based on your earnings.  
  1. Will I be able to maintain my standard of living with the financial resources available to me? A comfortable retirement is the dream of every worker. However, in order to achieve that, one must ensure they have sufficient assets and retirement income to support the lifestyle they envision. 
  1. How can I protect my financial resources from the effects of inflation over a 20- to 30-year retirement period? It’s no secret that the value of a dollar is vastly different than it was 20 years ago today. That’s why so many retirement savers are worried about the type of lifestyle their savings will be able to provide 20 years into the future when things will cost even more.

There’s little question that these are very real challenges. The answers to them, of course, varies by individual. There is, however, one common solution to help those planning for retirement – tapping the assistance of a professional firm.

 A retirement planning firm has the expertise and resources to help review your situation and navigate the plethora of options available to you. Learn more about how to choose a firm. You may also want to talk to the professionals at DNB First.

It may require a little more work on your part to find the right retirement planning firm today, but that little extra work now can lead to a comfortable life of leisure in retirement. We can all agree on the benefits of that.

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