National Retirement Security Week happens in the third week of October.
So, it’s a good time to think of ways to boost your own retirement security.
First of all, as you plan for the financial resources you’ll need, don’t underestimate your possible longevity — you could spend two, or even three, decades as a retiree.
And don’t underestimate your health care expenses, which can amount to several thousand dollars a year, even with Medicare.
But you can also take some proactive steps, such as contributing as much as you can afford to your employer-sponsored retirement plan and an IRA.
And once you do retire, you’ll want to ensure you don’t withdraw so much each year from your investment portfolio that you run the risk of outliving your resources.
Also, you’ll want to maintain a mix of investments so you have growth and income opportunities.
A financial professional can help you balance your portfolio so it fits your risk tolerance and investment objectives.
It can be challenging to make all the moves necessary to help achieve retirement security — but it’s worth the effort.
This article was written by Edward Jones for use by your local Edward Jones Financial Advisor John Dickerson. Member SIPC.
