This post is part of our series for advisors to pass to their clients. Knowing more about your clients' needs will help you to better serve them. Aging doesn’t have to be scary, and we here at Ashar want to help you provide the resources that policy sellers need to flourish in this chapter of their life.
Just like you wouldn’t take a road trip without checking a map, you can’t expect to reach your financial goals without creating a budget. Retirement is one of these goals—congratulations on making it! Still, as Americans live longer than ever, many seniors fear outliving their assets.
Create a budget for retirement and stick to it. Assess your assets and debts, and do your best to take out no additional loans. The best way to make your money last is to be realistic about your retirement fund and what kind of lifestyle you can afford. And while many hear the word “budget” and think bread-and-water type of austerity, there are plenty of ways to live it up during retirement on a budget. (more…)