Luhn-McCain Insurance Agency, Ltd.

August 2010

Brought to you by Luhn-McCain Insurance Agency, Ltd.

Questions to Consider When Determining Your Retirement Age

Retirement planning should consider several factors. Of which choosing your retirement age is probably the most important. Your retirement age will predict your risks and influence benefits in your later years. At what age should you retire? This is a difficult question and one that most people only begin to consider as they inch by middle-age. Retire too late and you may detract from the quality of or even shorten your life. Retire too young and you may run out of money. How much money will you need to retire? Determining a retirement age will help you calculate your income requirements. The operative word is "adequate." If you retire at an older age, your pensions and benefits will be larger.
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Rid Yourself of Debt to Clear Your Retirement Path

A cursory analysis of many retirement obstacles quickly reveals that appearances can be deceiving. Many people would say that the biggest obstacle to retirement is not having enough money. The obvious question that follows is why this is the case. This question is only the beginning of the journey. Answering that question leads to the biggest reason why many people do not have enough money saved for retirement - because they spent most of their income to pay off debt. When they hear the word 'debt', they think of secured debts like mortgages and car loans.
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Why You Need a Durable Power of Attorney For Finances

Incapacitation is a constant possibility for people as they grow older. A durable power of attorney assigned to a trustworthy and responsible individual can help alleviate the worry that problems with health will prevent you from handling matters of money at a point in the future. Unfortunately, incapacitation can happen to anyone at any time. Therefore, learning how to protect yourself from the scenario of your money being left to the tender mercies of the state or other legal entity is essential.
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