I am finding the fear of retirement to be very real, and not all that surprising.  The internet is full of warnings of a pending recession in 2020 which is a major cause of concern, then there are the reports that most American’s do not have adequate financial reserves.  The thought of retirement is scary for some and the worst mistake others can make.

I am working with a couple where one spouse keeps putting off retirement.  The fear of shutting off the paycheck spigot if truly worrisome; that regular paycheck is something that can be hard to give up.  Especially once large bills loom on the horizon such as a  furnace dying, or medical /dental work in the immediate future.  The security of the paycheck is a great comfort, even if the work is a chore.

I have another couple where one spouse died suddenly after their retirement and the other spouse may not have the resources to keep the house without the others retirement benefits.

Retirement must be carefully planned, as many contingencies need to be at least looked at.  But that is what financial advisors do for a living, if they are any good at their profession.

Are planning for your retirement any time soon?  If so you should be taking to your people, make sure that you are lining up your assets and talking about your income streams to ensure their reliability.

The other option is to keep working and keep the steady stream of income pouring in, if you are able.

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