The ThirdAge Retirement Troubleshooter |
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I have some fixed investments and will count on Social Security for the rest
Aren't you the optimist? You're counting on a system in which people have little faith. Most people think it will still be around, but few believe it'll be enough. Jeff Fleming says Social Security currently represents an average of 30 percent of a retiree's income and that is likely to decrease in the future. So where will that other 70 percent come from?
Fixed investments often have fixed rates of return. Are your investments inflation-proof? One of the hidden risks of investing for retirement is inflation, eating away at the future purchasing power of your investments.
Time is a huge benefactor. The sooner you evaluate your financial situation, the more time you have to adjust your savings and investment strategy to compensate for potential shortfalls. As one unknown source said, "The only thing worse than dying young is outliving your money."
So tell us. What's the status of your financial plan?
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