Today’s magic number is 65. You know, unlike older retired Baby Boomers, the majority of peak 65ers don’t have pensions, which used to help fill that gap left by Social Security. Well, our current retirement system is obsolete. It’s time for a new retirement security framework. These were the words of Jason Fitchner, an executive director at the ALI Retirement Income Institute, and it highlights a great conversation that we’re going to dive into today.
The fact that so many people are going to be retiring over the course of the next couple of years, we are truly hitting the peak of retirement preparation right now. We’ll give you the stats, we’ll give you the implications and what you can do if you fall into this group that’s retiring very soon.
Here are some of the questions we’ll tackle in this episode:
- One of the concerning trends emerging right now is the lack of sufficient guaranteed income.
- Why the reliable three-legged stool of retirement income isn’t as sturdy now.
- The biggest concerns among this Peak 65 group when it comes to retirement.
- Examples of planning discussions we have with clients to work through some of these issues.