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Why Retirement Planning?

Given the recent opportunity to re-evaluate your current investment strategy, it is important to consult with a trusted financial advisor for guidance through these turbulent times. The three most relevant and important factors to retirement planning are Social Security, inflation, and the rising costs of healthcare.

Social Security

Social security has lost its value by an estimated 30% over the past 10 years according to Senior Citizens League. (1) According to NPR, social security is now expected to run short of cash by 2033. (2) This puts stress on the importance of alternative income for retirement. It is never recommended to solely rely on social security benefits in retirement but rather use them as a supplement to pensions and retirement savings.


As of late, we have seen a steady incline in the inflation rate and cost of living. Cost of Living Adjustment is reported to be at 8.7% which in terms of the last ten years has more than tripled. (3) The rate of inflation affects everyone differently depending on individual expenses and spending habits. If you are an individual who is seeking a fixed income source, i.e. Social Security, pension, and withdraws, high inflation rates can affect the purchasing power of your fixed income. (4) You can avoid some of this future risk by diversifying your investment portfolio at your desired investment risk.

Rising Costs of Healthcare

Recent studies of health care costs provided by the Kaiser Family Foundation have reported that about six in every ten adults are worried about affording unexpected medical bills. (5) Even individuals with health care currently have reported their concerns with affording their health insurance deductible, and more than a third of people worry about being able to afford their monthly health insurance premium. (6)



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