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Many people understand that their health care costs are likely to be higher in retirement as they age and need more medical care. Still, people often grossly underestimate the extent of those expenses. Financial professionals can take several steps to help people understand what they may have to spend on health care once they retire and how they can prepare to cover, and potentially minimize, those expenses.
There is general agreement in the industry that the 4% rule is more of a benchmark or gauge than a steadfast rule. In today’s environment, it may be wise to consider the 4% withdrawal amount as a maximum withdrawal amount in the first year of retirement. Why? Stock prices have come down from all-time historical highs, interest rates are rising, and inflation is high.
Clients considering filing for Social Security benefits in today’s environment are finding planning more challenging. Review some of the key insights from our Social Security survey and discuss how to address some of your clients’ biggest concerns in your planning conversations.
People think they know more about Social Security than they really do. Help your clients understand common Social Security questions and misconceptions.
A financial downturn could leave farmers unprepared for medical issues or the proverbial rainy day. As a financial professional, you can help them prepare for the unexpected.
Nationwide Plan Sponsors address some misperceptions surrounding in-plan guarantee investment solutions.
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