Posted by: Garcia & Cuadra, PA | October 15, 2013

Retirement Planning

Retirement Planning

Unless Congress does something to change the situation, people who are 45 years old today or younger, now have to evaluate their retirement plans based on a 33% reduction in benefit payments.  It may sound like an oxymoron, but at this point in time the best overall advice regarding Retirement Planning in Tampa could be; Prepare to have to work during some period of your retirement.  All the more reason, especially if your annual income is $50k or less, to consult with a Public Accountant who specializes in retirement planning.

For example, studies show that people in the U.S. expect to spend 18 years in retirement but have only been able to save enough for 10 years.   And about half the people currently retired report that they have not been able to realize their original plans.  One report found that 18% of Americans say they simply won’t be able to afford to retire.  That might enough information to scare you into making an appointment with a retirement planning expert tomorrow.

People who aren’t saving today, and there are a lot of them, complain that paying rent, buying food, or paying college loans, do not leave them enough money to save for retirement.   A retirement planning expert can help you figure out how to balance your approach, and explain your options when saving in small amounts.

Planning for retirement has never been easy, and with today’s economic situation combined with the impossibility of predicting the future, for a young person making 50K or less, creating a retirement plan could be one of the toughest life challenges they will face.  This is another reason to call a retirement planning expert.  If you are a member of the Millennial generation, then retirement might seem really far away and although time is on your side, saving small amounts of your income is better than ignoring the future, and it will get you in the habit of saving.

It’s never too early to start planning for retirement in Tampa Bay:   Call Garcia and Cuadra at 813-415-2431 or visit their website for more information


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