Common Issues And Overlooked Retirement Factors
Different groups of people see retirement differently. Those who are retiring see it as a time to have the freedom to do what they want. They are able to travel, visit friends and family, and get away from the demands of a job or self-employment. People in Greenville, SC, may also see it as a time to relax and enjoy life at a slower pace.
Retirement and financial experts like Matt Dixon look at retirement from a different perspective. Matt Dixon recommends looking at retirement as an extended period of unemployment. As such, it is important to plan for this time and to have the income and savings available to enjoy this time doing what you want.
An important consideration is the potential for income generation during retirement. This includes passive income from investments that continues to add to your ability to enjoy life and to do the things you love.
Investing early in these types of money-making investments ensures you have a steady income stream in retirement when the income is taxed at the lowest rate. Options to consider can include annuities and wealth management strategies that are customized to your needs.
Another factor Matt Dixon talks to people in Greenville about is limiting debt in retirement. This means downsizing or paying off the mortgage before retirement. It can also include implementing asset protection strategies and utilizing life insurance as a way to ensure you have the money you need for expected and unexpected life events.