Although economists say the country has recovered from the 2008 recession, many people nearing retirement age would disagree. In fact, according to a recent study by the Bankers Life Center for a Secure Retirement, only 2 percent of middle-income baby boomers believe the economy has fully recovered. More than half of those surveyed reported that their savings are lower than they were before the crisis, and 40 percent stated they are not earning as much as they used to earn.
Unfortunately, sometimes we have to go through hard times to learn important lessons. Today, more baby boomers have built up an emergency fund to help cushion the financial impact in the event of another economic decline in the future. Many also have started working with a financial advisor to help them become better prepared for retirement — including the potential for downturns that could happen once they’ve stopped working.
One of the lessons to come out of the “Great Recession” is the importance of being financially prepared for retirement. We can help evaluate your current financial situation and make appropriate insurance and investment recommendations to help you work toward your desired financial future. Please feel free to contact us for a no-obligation consultation.
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