Missouri ranks well for retirees
"What people are worried about is running out of money, health-care costs, which relates to running out of money, and a frustration that retirement is not what they thought it was going to be because of these different worries," said
An estimated four million people retire each year, and about 80 million are expected to retire between 2014 and 2034. According to the
"A lot of people know they need to do something. They know they want to preserve the money they've worked so hard for, but in general it's in some environment where it can go down in value," Thompson said. "There are answers to almost everything someone could worry about. You've just got to be proactive."
"One of the most common things is that they are frustrated with being at risk. They've worked so hard for so long to accumulate their accounts and they are getting ready to retire and they are getting really scared with the market. They say 'What do we do?'" Herring said. "They don't want to outlive their money."
Financial planning for retirement is vital, regardless of a couple or individual's financial situation, Herring said.
"It's for people who have
In addition to financial choices, choosing where to retire can effect enjoyment and overall outcome.
"Retirement can differ significantly based on where you live," said
The study looked at the adjusted cost of living, cost of in-home services, population aged 65 and older, violent crime and property crime rates, health-care providers per capita, life expectancy and other factors.
"The state has the 10th lowest adjusted cost of living and the 13th lowest annual cost of in-home services at
"The state's quality of life is quite good, as just 7 percent of residents aged 65 and older are living below the poverty line," she said. "Also,
"People should consider a state's affordability, as well as amenities and opportunities that make for a healthy and active lifestyle," Gonzalez said. "... Both states have their pros and cons, but based on our findings,
Deciding where to retire and how to handle the financial requirements of retirement can help prepare people for the next decades of their lives, with hopefully less stress and more security, Herring said.
"Retirement should be about not worrying. That's the time to relax," she said. "If you are not feeling better and less stress, then something needs to be changed."
___
(c)2017 the St. Joseph News-Press (St. Joseph, Mo.)
Visit the St. Joseph News-Press (St. Joseph, Mo.) at www.newspressnow.com/index.html
Distributed by Tribune Content Agency, LLC.
The Advantages of Getting Car Insurance Quotes From Agents
Shoppers weigh boycott calls as buying gets more political
Advisor News
Annuity News
Health/Employee Benefits News
Life Insurance News