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According to a recent article from The Motley Fool entitled “Planning for Retirement When You’re Single Healthcare costs in retirement can be a significant financial hardship. The average couple retiring in 2015 at age 65 can anticipate spending about $245,000 on healthcare costs in retirement, not including long-term care expenses. Reference: The Motley Fool (January 26, 2016) “Planning for Retirement When You’re Single” #Pearland

As you get nearer to retirement, there is more pressure to plan ahead. After all those years of working, it’s hard not to dream of retirement. When you retire, your amount of financial risk needs to change. retirement age (or even longer)—when they would have received bigger monthly checks. #RetirementPlanning #SocialSecurity

Private insurance and Medicare won’t pay for assisted living, continuing care in retirement communities Medicaid will cover long-term care, but qualifying can be challenging for many retirees and guidelines The average person enters retirement with a median $131,000 in retirement savings.

Typically, most couples struggle with homes, vehicles, retirement benefits, household items, and valuables Take Your Time with Family Businesses and Retirement Benefits Two of the most difficult assets to split are retirement benefits and family businesses. Retirement benefits don’t always just go to the individual who received these benefits through their

Retirement Accounts Once your divorce has been finalized, you will also want to make sure to update the beneficiaries listed on your retirement accounts. Many people have multiple 401ks, Roth IRAs, and other retirement accounts, so take the time to make sure

Continuing to Save for Retirement. As you close in on retirement age, make sure to max out your retirement plan contributions through an

Healthcare is one of the biggest expenses any person must shoulder, but especially those that are retired discover they are not financially prepared for the high cost of medical expenses, especially when they retire Whether you are just starting your career, approaching retirement, or transitioning out of the workforce If you retire before that time, you will need some form of health insurance to help cover medical expenses The Bottom Line Healthcare spending can easily eat up a person’s entire retirement budget.

For example, if you have only one of your children named as a beneficiary of your life insurance or retirement This is because life insurance and retirement accounts are distributed outside of probate court and your

Roth IRAs Many people associate Roth IRAs with retirement planning, but this tool can also come in handy qualify for scholarships and not need money for college, but everyone could use some extra money in the retirement

In addition, retirement money is a non-probate asset. Harris County probate for your reference: Assets held in joint tenancy with rights of survivorship Retirement

Without smart planning, all that work can be lost through disability, retirement, or death. Failing to Have a Succession Plan When you retire, do you know who will take over your business?

While it is commonly associated with retirement and old age, estate planning for young families is equally creating a will, setting up trusts, and designating beneficiaries for your life insurance policies and retirement Beneficiary designations for your life insurance policies and retirement accounts ensure that the funds