About the Effects of Retirement

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The effects of retirement on a person's income depend on how well they planned for their retirement financially. Take inflation into consideration when thinking about the effects of retirement with help from a licensed insurance agent in this free video on retirement planning and personal finance.

Part of the Video Series: Retirement Planning
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Video Transcript

Hi, my name is Bill Rae. I am a licensed agent and been in the field for well over two decades. Today we're going to talk about the effects of retirement, specifically the effects of retirement on you income. Interesting question. The effects of retirement on your income really depends upon how well you had planned or if you're thinking about it, how well your planning is today. Some of the things we should keep in mind, when we talk about retirement, assuming that retirement to most folks means I'm stopping my eight to five job and no longer increasing my income, means that we now have to rely on the income we have put away for this day. When we think about that the first thing that has to come in to play is inflation. Inflation is going to reduce your purchasing power. Very simple concept, just think about what the cost of bread was ten years ago versus today. Think about how much milk was two years ago versus today. And for you guys, ask your wife. she'll know. If you've planned well, retirement should be an enjoyable time for you. You need to plan to make sure that the income is going to last you well beyond what you think for the lifestyle that you're prepared. My name's Bill Rae and I'm here helping you build wealth.

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