What Happens To Your Retirement Savings When The Unexpected Happens

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Most adults who work and save for retirement have a vision, a dream, an idea of what their retirement years will look like. Everyone’s dreams are different. Some include travel to foreign lands, while others are filled with the idea of being able to play golf and tennis every day. Still others may simply be about spending time with grandchildren and family. Whatever your retirement dreams look like, it’s a good idea to be prepared for the unexpected.

Truth is no one knows how life is going to unfold. This current COVID19 pandemic is proof of that. Most of us regular people didn’t see this coming. We didn’t anticipate the wild swing in the stock market or the enormous death toll. I doubt that anyone could have anticipated the entire country being in a lockdown. No travel, no golf, no tennis, no socializing of any kind. There are grandparents who haven’t been able to see and hold their grandchildren for two full months.

The point of this is to remind you that it’s most prudent to save while you can and as much as you can because you simply have no idea what the future holds. It pays to establish an estate and asset protection plan at the same time you establish your retirement savings plan. These plans take into consideration the unexpected. For instance, if you or your spouse were to suffer a stroke and you did not have long-term health care built into an estate and asset protection plan, you could pretty much say that “all bets are off.” The cost of care would certainly deplete a savings account or standard retirement account. And all of your dreams would evaporate as quickly as your savings.

The best way to meet the unexpected with confidence and strength is to be as prepared as possible. That is what having an estate and asset protection plan gives you. Give us a call and let’s discuss your plans for the future.