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As president of Clear Solutions for Seniors, an Arizona-based firm offering financial guidance and planning services specifically for seniors, Darcy Bergen welcomes and answers a wide range of questions about retirement planning. Tackling issues from lifestyle goals to life expectancy, Darcy Bergen helps seniors of all situations visualize and plan for their ideal retirement.
In today’s difficult economic climate, one question is more pressing than ever when it comes to retirement planning: what if I don’t have enough money?
Fortunately, with enough time to plan and prepare, there are several options available to individuals dealing with the challenge of financing their retirement. One category of solutions involves boosting retirement income. Strategies such as delaying retirement or pursuing a phased retirement (continuing to work a certain amount after retiring) mean more pre-retirement income, more pension income, and more time passing before the need to dip into retirement savings arises. Additional options include converting home equity or other assets, particularly valuables that are not used or needed, to savings.
Other solutions deal with the expense side of the equation. Many retirees find that downsizing their homes or moving to a lower cost area go a long way to covering financial shortfalls. Others treat retirement as an opportunity to thoroughly examine their lifestyle and eliminate expenses that are no longer necessary, such as a second car, while at the same time increasing their pursuit of low cost leisure activities.
Darcy Bergen's Blog 