Save More Today for a Later Retirement

Save More Today for a Later Retirement

Art Glasgow, Peck-Glasgow Insurance

June 17, 2011

Everyday we see more and more events shaping our world that point to a reduced standard of living for us and our children.  Hard economic times have spread across the globe, and our country, the United States of America seems to be struggling with a government that can’t seem to comes to grips with spending less and dealing with a mounting deficit.

Unemployment remains high, and real unemployment (those that are no longer measured as unemployed due to expiration of benefits) grows each month.  All of us have to evaluate our retirement plans and social security remains only a possibility for some of us. Delayed retirement is the new normal.  That means we have to save more today. 

 

As an Insurance Agency, we want to increase consumer awareness of savings vehicles that may help with retirement.  First of all, increase your employer 401K contributions to maximize the match.  Next look at other savings vehicles.  If you have several years until retirement, a Roth IRA (if you qualify) if a great vehicle for lowering your taxable income in retirement. 

Other great savings vehicles include annuities and permanent Life Insurance products. 

As professional Independent Insurance Agents, Peck-Glasgow Insurance works with many life insurance companies and their professional advisors to select plans that are right for you.  Accomplishing savings and life insurance is good financial planning and we would be happy to discuss your needs.  Seek out professional guidance is great advice, no matter what professional service you are looking for.