Terry Selb of American Tax Solutions recently explained the importance of retirement planning to maximize the golden years.
Young people often find it difficult to imagine their
retirement years. Financial expert Terry Selb
explained that many don't see the point in retirement planning when they should
live life to the fullest now. The owner and operator of American Tax Solutions
recently discussed the importance of retirement planning, even for those whose
retirement is in the distant future.
Comfort and Dignity
One of the primary purposes of retirement planning is to live
a more dignified and comfortable life in retirement. For some, that means
traveling and seeing the world. For others, it's the opportunity
to finally relax at home with loved ones.
Retirement planning allows individuals to fulfill some of
their lifelong goals without clocking in and out at work every day.
Inflation
Some individuals take it upon themselves to save for
retirement at home. However, they don't take into account the inevitable amount
of inflation that will occur.
Costs are continuously rising, and saving in a way that
doesn't grow the money means the individual is actually losing it over time.
This can result in a drastically lower standard of living in retirement than
the individual would have had if they invested properly.
Independence
Terry Selb and his team at American Tax Solutions understand
that many Americans prefer to be independent. Aging adults no longer want to
rely on their children for money in retirement.
Retirement planning with qualified professionals allows
retirees to remain responsible for their expenses. It also means they don't
need to rely on loved ones that may not be as reliable or generous as once
expected. Retirement planning leaves less up to chance.
"As a culture, we're all becoming increasingly
independent," Selb said. "Young people want to go off on their own,
and aging adults want to be responsible for themselves. Retirement planning
allows everyone their independence."
Emergencies Happen
As humans age, health issues become more common. United States
healthcare costs are extremely expensive, and a single emergency could deplete
someone's retirement savings.
Retirement planning with a professional can ensure individuals
and families are prepared for healthcare inflation and rising retail costs. It
can also help pay for health emergencies without sacrificing money allotted for
other retirement goals.
Consider a Retirement Planning
Professional Like Terry Selb and American Tax Solutions
Help from a retirement planning professional is invaluable.
Selb and his team dedicate themselves to helping individuals live healthier,
happier, more dignified lives in retirement.