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Retirement-Aged Audience

Financial planning is essential for people of all ages, but it becomes especially crucial as one approaches retirement age. At Horizon Financial Group, our experienced financial professionals are able to offer a variety of key considerations for clients that are approaching the post-professional chapter of their lives. Please read the list below to understand each of these considerations and why they are important to keep in mind when creating a retirement plan.

  • Savings: It is essential to have a substantial amount saved up to cover living expenses during retirement. This may include both liquid savings and investments in retirement accounts such as IRAs or 401(k)s.
  • Budgeting: Retirement can bring significant changes to one's financial situation, including reduced income and increased expenses. Therefore, it is essential to have a clear understanding of one's income and expenses and to plan a budget accordingly.
  • Debt Management: It is advisable to pay off high-interest debt before retiring, such as credit card debt or personal loans. This can help reduce the burden of monthly payments and increase one's overall retirement savings.
    Investment Strategy: As retirement approaches, it may be necessary to shift investment strategies to be more conservative and reduce exposure to risk. This may involve moving investments from stocks to bonds or other lower-risk options.
  • Social Security: Understanding when and how to claim Social Security benefits is an important part of retirement planning. Timing and claiming strategies can have a significant impact on the total amount of benefits received.
  • Healthcare: Healthcare expenses can be a significant cost in retirement, so it is important to plan for these expenses and consider options such as Medicare and supplemental insurance.
  • Estate Planning Strategies: Estate planning is important to ensure that one's assets are distributed according to their wishes after death. This may include creating a will, establishing a trust, and considering options for gifting assets during one's lifetime.

If you're approaching retirement age, now is the time to take control of your financial future. By scheduling an appointment (hyperlink to “Contact” page) with one of our experienced financial professionals, you can get personalized advice and develop a comprehensive plan that is designed to help you reach a secure financial future. With the right planning and preparation, you can feel confident and ready to enjoy the retirement you've always dreamed of. 

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