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Before You Plan For Retirement, Listen To The Advice Of Those Who Have Already Retired

Posted on June 27, 2006
Filed under Retirement Planning
Read the complete post or link to it

In a survey of 2,075 people, 82 percent of the retired pollees found the living expenses of retirement to be as high, or higher, than originally expectedAn interesting retirement statistic from the Wall Street Journal.

In a survey of 2,075 people, 82 percent of the retired pollees found the living expenses of retirement to be as high, or higher, than originally expected. 

The study also shows that just 30% of the non-retired, married pollees agree with their spouse/partner on how much to save for retirement.

A crude interpretation shows two points:

  1. Before getting married, partners are not agreeing on a retirement plan
  2. Once retired, partners realize they should have saved more during their working years

This is just one more reason to work with a financial planner early in your career. 

As much as people want to believe that personal finance is DIY, it takes a seasoned and methodical approach to build a retirement-safe, tax-minimizing retirement plan.

Even if you're highly educated.

Source
Living Expenses in Retirement are Higher Than Many Estimate
WSJ.com, Beckey Bright
June 26, 2006
http://online.wsj.com/article/SB115046995816582410.html?mod=2_1232_3

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