There was a time when more than 90% of American men older than age 65 worked. To be precise, that time was 1870. Back then, retirement was unheard of; in an economy that was still labor-intensive and largely agricultural, anyone capable of working at that age kept at it.

Today, Americans typically retire in their early sixties. While some may work much longer, a retirement lasting 20 to 30 years may turn out to be the more-common experience. What does this mean for retirees, financially? Baby boomers leaving work might have to accept the level of investment risk they do now once retired. Many retirees may be challenged to live merely off Social Security benefits and dividends, with interest rates still not far from historic lows, and even 2% inflation will reduce the purchasing power of an uninvested dollar by almost 50% over 30 years. Moreover, some boomers need to build greater retirement savings. Though we could see more Americans working past age 65 in the near future, many people may still want or need to retire before that age, and if you are among them, you may need to take short-term income needs and long-term investing objectives into account.2

Mike Moffitt may be reached at ph# 641-782-5577 or email:  mikem@cfgiowa.com

Website:  www.cfgiowa.com

This material was prepared by MarketingPro, Inc., and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note – investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.

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Citations.

2-fortune.com/2019/07/10/you-might-have-longer-than-you-think-to-invest-for-retirement[7/10/19]

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