September 17, 2014
Hi and welcome back to the Goldstone Financial Groups Blog page. Yup that’s probably what you’ll be saying when you start seeing how much you’ll need to have for a successful retirement…”Holy cow..how much”? Now look, we all know that retirement isn’t going to be cheap but good grief some of the figures flying around out there are just down right stunning. Lets start off with health care cost. Do you realize that those costs will most likely be the largest ones for you? The other day I saw some research that said for a couple who retired last year, 2013, they will need approximately $220,000 to take care of their health care costs during retirement. That figure was based on an average life expectancy but what happens if you are blessed with a long life…a really long life. That $220,000 will be significantly more and oh by the way that’s not figuring expenses for long term care. The average cost of a nursing home today is getting very close to $100,000 per year and those assisted living facilities are over $3000 per month on average. This is just one example of why we are always talking about the need to set up a comprehensive retirement plan that will help you secure your financial future. Do you really want to end up in a situation where you can’t get the health care you need? Of course not. Here’s another one I love…”My expenses will be much less in retirement”. Well, lets take a look at that. Yes some of your expenses will disappear…but you’ll still need to buy food. Also how about gas and electric and internet/TV service. Those are going to still be there. You’re also going to need clothing and shelter and don’t forget property taxes. Yes you probably won’t be commuting to a job everyday and you won’t have to be paying for parking or the train but do not be fooled into thinking that retirement is going to be cheap. You’re going to want to travel some…maybe go and visit the grandkids or other family members. See what we mean? You need to sit down and develop a plan…kind of like a map for a trip. If you wanted to go out to Utah and go camping you wouldn’t just hop in the car and start driving would you? Of course not…you would get the maps or navigation system out and figure out the best route. It’s the same when planning your retirement. At the Goldstone Financial Group we LOVE doing that. We love helping people see how they can have a wonderful secure retirement. Our ways may not be perfect for everyone…we know that but for most people they will be perfect. Okay so now you’re thinking “boy that sounds great but now what do I do?”. It’s very simple..just call us and set up a time when you can come in and receive our complementary financial review. There’s no cost and there’s no obligation call 800-353-13-14. Securing your financial future is what we are all about. Why don’t you give us a chance to show you how we can help you. Thanks so much for taking the time to read my ramblings. I appreciate it.

Michael Pellegrino
Principal, Goldstone Financial Group

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