Having retirement issues can put a damper on what should be your “relaxing” years!
While saving for retirement is an important matter, what comes next is just as vital. Do you have a plan of action once you enter your retirement years? No matter how well you save during your early years, it’s critical to plan how you transform those assets into income.
Once you retire and your paychecks stop rolling in, managing your money becomes a lot more challenging. In fact, there are some key obstacles you could face in your later years that interfere with your financial security.
Other than Social Security, many seniors have no source of assured income other than their retirement savings. Plus, unlike the earlier generations, you might not be covered by a pension plan at work.
So chances are you’re going to have to rely on your own measures to overcome some important retirement issues. So let’s talk about the 6 biggest problems you’re facing and how you can overcome them.