The Missing Piece
What is the missing piece of the retirement puzzle?
We all know the financial drill that has been reinforced over the years through our parents, our employers and the financial professionals that we trust… Save for retirement! Use your 401k, maximize your Social Security, and you will find yourself on the right path.
We are shown how to plan through the use of 401ks, mutual funds or other types of retirement vehicles while also being shown how to maximize our Social Security benefit to increase our income in retirement.
We are “helped” by our employers that have been told that matching contributions to their employees’ 401k is a great way to help an them save for retirement. We are also told by our trusted financial professionals that maximizing your returns while minimizing the taxes today is what needs to be done to ensure a solid financial future… however they are missing an important piece of the puzzle.
What if we told you that your cost of healthcare in retirement is based on the very income you are trying to build for your retirement and that by having too much income will actually deplete that very income that was created? What if we also told you that these costs are mandatory and that maximizing your Social Security Benefit along with building that 401(k) may actually hurt you when your health is on the line?
Due to legislative changes from Congress provisions have been created that lead directly to higher health costs, lower Social Security benefits and increased taxes which will all result in having even less income in retirement than planned for.
Has anyone ever told you about this? Are you able to help plan for it?
According to recent findings less than 8% of Americans have even started to plan for these legislative changes as well as the costs associated to their healthcare.
There is a time bomb that is set to go off and when, not if it does, will your clients be prepared?
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