What do “The Walking Dead’ and retirement have in common?

You’ve probably seen the stats.  46% of Americans have less than $10,000 saved for retirement1.  People are living longer in retirement than all previous generations.  10,000 people turn 65 a day. Hordes of retirees every day are pouring into retirement and transitioning from a life of paychecks to a life of creating their own checks without a plan. Like the slow moving zombies in The Walking Dead, many retirees essentially ‘drift’ into retirement. And while scary, it doesn’t necessarily mean that retirees are doomed.  It means there needs to be better planning. 

Retirement should be a planning event.  A big moment.  A lot changes when retirement sets in.  Most importantly, no longer having a paycheck.  Retirees need to take the right steps to ensure there will be enough income to last throughout retirement, whether that’s 10 or 30 plus years.  Retirees face challenges like longevity, inflation, healthcare costs, investment risks and ever-changing public policy. No one can predict the future so retirees need to do their best before retirement to make sure they’re as prepared as possible.  Some haven’t saved enough and will need your help on how to make the most of what they do have.  Others have saved diligently but may not be sure how to make that money last.

Helping a retiree make the most of their retirement years takes some understanding and insight. We interviewed retirees about their fears and concerns, why they do (or don’t) work with a financial advisor, what they would change if they could turn back time and what they did to prepare for retirement. We took their frank responses and made them into insightful videos  to share.  Seeing retirement from their eyes and knowing what drives their choices can make helping them avoid the retirement drift a much easier process. 

In my latest Huffington Post blog, I talk about three things retirees can do, at minimum, to avoid becoming a part of the zombie apocalypse and drifting into retirement.  One of those things is talking to a financial professional. Once that door is open, you can use your wisdom to help steer them clear of drifting into a retirement apocalypse so that they can enjoy the retirement they have worked so hard for.

 1 April 2013 study by the Employment Benefit Research Institute

While this communication may be used to promote or market a transaction or an idea that is discussed in the publication, it is intended to provide general information about the subject matter covered and is provided with the understanding that none of the member companies of The Principal are rendering legal, accounting, or tax advice. It is not a marketed opinion and may not be used to avoid penalties under the Internal Revenue Code. You should consult with appropriate counsel or other advisors on all matters pertaining to legal, tax, or accounting obligations and requirements.

Insurance products and plan administrative services provided by Principal Life Insurance Company, member of the Principal Financial Group® (The Principal®), Des Moines, IA 50392.

@ 2014 Principal Financial Services, Inc.