Friday, August 2, 2013

Genworth Tips to Retirement Preparation Whether Retiring Now or in 20 Years

4th in a series of 5 posts

Information for this post is sourced from Genworth Financial in partnership with the SheHeard Influencer Network

Managing our own financial affairs now while we are young with agile minds and bodies is truly important and should begin as early in life as possible. It's ideal to begin actually saving for retirement when you are still in your 20s and just starting out in your career. By the time we approach middle age it's time to start seriously thinking about how you will make retire happen. Since women still have a longer life expectancy rate than men do this is particularly critical if you are female. But men certainly also need to be concerned about how they will manage financially later in life.

Nobody knows for sure what lies ahead,
Broaching the subject of retirement can be overwhelming and downright difficult because really no one wants to get old. I know that's how I feel now -- I'm a Baby Boomer and am now in my 50s and my oldest child just graduated from high school. I honestly don't want to have to think about all that old-age stuff.

The reality is, though, that none of us can stop the passage of time. So we may as well look for opportunities in our future and leverage them for the better by educating ourselves about what's most important right now.

Me at my son's recent high school graduation,
To start, there are some vital questions to go over with your financial advisor when it comes to discussing retirement readiness.
  • Does my current mix of portfolio asset holdings provide long-term growth potential as well as liquid cash that I can spend as I need it?
  • Will my income at retirement keep up with inflation?
  • What if I outlive my financial resources?
  • How about if I'm struck with catastrophic illness that drains my bank account?

In fact, this invaluable resource is a treasure trove of information that is worth tapping into. It also provides you with a complimentary interactive tool that will guide you through what you need to consider when thinking about retirement to help you create a plan that's right for you that you can afford. This publication also offers some other helpful items to help you get ready for retirement at no cost to you, so why not take advantage of it?

Speaking of retirement, if you're lucky enough to be taking that big step this year, definitely read 7 Tips for People Planning to Retire in 2013. There's some really timely and practical advice in this article to help you decide whether or not to remain in the workforce in your lifelong profession or to start a "second career." Also, among the other tips you'll find, is the reminder to make sure you sign up for Medicare on time so you will receive the maximum benefits.

I'll drink to that!
Seriously. The main point is whether you're set to retire this year or in twenty years, there's plenty that each of us can be doing now to get ready.
Knowledge really is power. Now's the time to leverage it.
About Genworth
Genworth, headquartered in Richmond, VA, offers a range of services to client living in all 50 U.S. states. Among the products available are retirement income, life and long term care insurance and mortgage insurance. For more information visit and their Twitter and Facebook pages.

FTC Disclosure: Information for this post is sourced from Genworth Financial in partnership with the SheHeard Influencer Network, however all opinions are my own. See complete FTC Disclosure information that appears at the bottom of MommyBlogExpert's main page and at the bottom of every individual post on this blog, including this one.

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