10 Surprising Facts about Retirement gives a clear view of retirement readiness. Does the idea of retirement genuinely excite you or do you feel a bit of panic? Did you know many retirees have similar feelings of insecurity around retiring and living off of what they accumulated? Hi, I’m Kimmy Rolph and I specialize in helping retirees sell homes and downsize, and surprisingly, I also become a friend and sounding board for these concerns. I wanted to share some of the most common things about retirement that are not immediately considered. First, According to Alicia Munnell, director of the Center for Retirement Research at Boston College and co-author of “Falling Short: The Coming Retirement Crisis and What to Do About It,” many retirees feel uncomfortable spending their savings. In her findings she claims that many retirees “are going to feel like they spent a lifetime accumulating this pile, and the idea of spending this down is just repulsive to them,” If you are like many of these retirees, one way that is suggested is to plan for investments that continue to bring revenue. Wealth planners do handle this and estate planners are also excellent at easing these concerns. Another Surprise are the things that medicare does not cover, including routine eye exams, dental care, and hearing aids. This means that it is even more important to have a financial plan in place. Another facet of retirement that is not considered is that if you retire, you may suddenly find yourself spending more time alone. This may be welcome at first, but then there are other communities where people of the same age are dating. As we have so many planning on retiring soon, these considerations should play a role in how you would like to transition into this next stage.
As a realtor,and not a financial planner, I have solutions for housing including downsizing options, continuum living recommendations, financial planning referrals and much more to help organize this transition. These might sound like doom and gloom retirement predictions, but the reality is you really are not alone and so many people are doing this with you. I have some of the best places to retire on The Main Line in my retirement resources linked below and also guides to costs and what the rules look like in aging in place homes vs 55+ communities. I encourage you to take a look at these to feel more comfortable taking this next step. When you are ready to discuss downsizing and selling your home, I hope you would feel comfortable calling me to take this next step together.
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