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Is Your Retirement Aligned with a New Lifestyle?

May 9, 2022

Your lifestyle might have changed when you graduated with student loans, bought a house, or had children. Other issues like disability or caring for elderly loved ones can prompt a change here, too. But retirement is a big transition and it’s one well worth planning for in advance.

Entering retirement provides many different potential benefits for you, especially, if you have done the right amount of planning. However, a broad range of problems could potentially impact your life and make it difficult or impossible for you to achieve these goals.

Unfortunately, far too many people find this out too late, and it is crucial to think more about lessons you can learn from previous generations who have retired. Your lifestyle likely needs to change after retirement and your financial projections helping you save enough money were likely considered many years ago.

Some of the biggest mistakes that today’s retirees make is in failing to adjust their expenses to the new budget they have in retirement. Those who have worked over the course of many years might need to adjust their expenses in a dramatic way, especially, as it relates to clothing, entertainment, and dining out.

Relying on the amount of money you had while income was regular can be a drastic adjustment, especially, if your financial projections and what you actually have set aside in retirement don’t match well.

Furthermore, another big mistake that retirees make in this way is to forget that long-term care costs and healthcare expenses can come into play as a person gets older. If you did not plan properly or have enough set aside in your budget, these can represent even more dramatic cuts to your lifestyle expenses.

Make sure that you consult with a professional who has a dedicated support system in place to guide you through this process. Our NJ retirement and transition support services can assist you.


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Schedule your free Exploratory phone call

Click here to see how we
can be of assistance.

Careers/Open Positions

Explore all available job
listings and become a part of an amazing team.

Our Social Media

Connect with us on Social Media using the following buttons:

Visit our Podcasts

Listen in, Join the Conversation!

Recent Posts
Immediate vs. Deferred Annuities

Despite not being as well known as some other retirement tools, annuities account for 6.5% ...

See more
According to Young Investors, Progress Toward Goals Matters Most

Younger and older investors are likely to have different preferences in music, movies, and fashion. ...

See more
Guiding Your Aging Parents Through Life’s Next Chapter: A Strategic Overview

In today’s aging society, many families face the responsibility of caring for elderly parents. This ...

See more