Why Do We Need To Plan For Retirement?

  1. 63333 POINTS
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    Peggy Mace
    Most of the U.S.
    Social Security does not provide enough income to live comfortably during your retirement years. That is why we need to plan for retirement. By planning far enough in advance, you can save money and create income streams during retirement to supplement Social Security income. You can buy insurance to pay for long term care costs (including home health care) and funeral expenses so that you will not be a burden to your family. People are living longer and spending more years in retirement. Without planning, those years may be more stressful and less enjoyable than they could be.
    Answered on April 15, 2014
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  2. 37376 POINTS
    David G. Pipes, CLU®, RICP®
    Business Development Officer, T.D. McNeil Insurance Services, Fresno, California
    You don’t need to be concerned about retirement if you believe that you will receive all the Social Security benefits that you anticipate.  You don’t need to be concerned if you believe that your company pension plan will provide all the funds that you anticipate.  You don’t need to be concerned if you are confident that you can take a 60-80% income reduction without suffering.  Otherwise it is a good idea to plan for retirement.
    Answered on May 28, 2014
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