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GOBankingRates spoke with experts who addressed each concern and explainedhow to plan for financial security in retirement.
Be sure to name a trusted contact since these documents can be especially powerful.
Thirty-nine percent of the middle class are concerned Social Security will not exist or will drastically change.
Its uncertain what might happen to payments, but Social Security has suggested they will continue.
Its not just about health care but also financial management, he said.
Setting up a power of attorney or a trust is key to protecting yourself.
To help plan, consider Deferred Income Annuities (DIAs), said Angelo Crocco, ownerofAC Accounting.
DIAs can provide a sense of peace in the long run.
you’re able to lock in a guaranteed income, he explained.
This can be a life-saving hack, especially when healthcare costs rise, as youll have a steady income.
We cant control what is happening to us the stock market, inflation, tax rates, etc.
Theres a lot to consider when it comes to retirement, butplanning and hard workmake financial security possible.
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