One of the biggest fears for those nearing retirement age is that they will outlive their money. Not knowing how they will survive the remaining years, many people approach their senior years unsure about when exactly they can retire. After all, they need to ensure they can maintain their current standard of living, once they lose the income from their current employment.
“A lot of seniors today are choosing to work longer. Some just enjoy it, but others don’t feel prepared enough to retire,” explains Samantha Fraelich-Rohe, CERTIFIED FINANCIAL PLANNER TM Professional, and Vice-President of Bernard R. Wolfe & Associates, Inc., a company that specializes in offering wealth management strategies. “It is always a good idea to assess whether you are ready for retirement before making a final decision and going for it. This will help alleviate fears and give you a realistic picture.”