PVMA Keystone Veterinarian Fall 2021 - 24

Nearing 60?
Consider a Financial
Wellness Check-Up
By Evaristo " Ever " Gonzalez, CFP, CLU, RICP
Financial Advisor, First Financial Group
As we age, we gain wisdom. When researchers examined
the financial behaviors and attitudes of nearly 5,000 working
Americans, the most confident and well informed were those
with the most experience.
But even the savviest and most experienced among us need
financial planning check-ins along the way, especially as we
edge closer to retirement. It can help to have a trusted financial
professional for guidance on critical issues, including:
RETIREMENT INCOME
Many retirees expect Social Security benefits alone to cover
living costs in retirement. The fact is, many people need about
75 percent of pre-retirement income to maintain their lifestyle,
and Social Security will probably replace only about 40 percent.1
MEDICAL EXPENSES
Underestimating healthcare costs is a common pitfall. Medicare
premiums keep escalating and a serious illness may require high
out-of-pocket expenses. A married couple, both age 65 in 2020,
may need up to $365,000 in retirement just to cover healthcare
costs.2
HOUSING COSTS
A key decision for many seniors is whether to remain in their
current home. Over one-third of homeowners age 65 to 74 still
owe monthly mortgage payments.3
Add in the cost of upkeep,
insurance, and taxes, and the home may become too expensive
to sustain in retirement. But the emotional ties to stay may be
very strong.
So, if you're accustomed to making financial decisions on your
own, how can you stay confident when retirement is on the
horizon? Just as a physician provides wellness checkups to
reduce your risk of serious disease, a financial professional can
help you adjust to this new chapter. Here are some questions to
consider when speaking with a financial professional:
24 | Keystone Veterinarian
* How can I live comfortably in retirement?
* What is guaranteed income?
* How can I optimize my Social Security benefits?
* How can I ensure my healthcare costs will be covered?
* How is my tax situation changing and how can I create tax
advantages?
* Should I consider downsizing, or stay where I am?
* What risk level is appropriate for my life stage?
* Is my legacy plan still relevant?
Financial expertise and unbiased guidance can help you sort
out these critical questions so you can enter retirement with
confidence.
References:
1. Will Social Security's $11 Trillion Shortfall Destroy Your
Retirement? The Motley Fool, Jan 22, 2017.
2. Employee Benefits Research Institute Issue Brief No. 351,
Funding Savings Needed for Health Expenses for Persons
Eligible for Medicare, December 2010.
3. Should You Pay Off Your Mortgage Before Retirement?
U.S. News & World Report, Dec 5, 2017.
About the Author: Ever Gonzalez, CFP, CLU, RICP, is dedicated
to leading veterinarians through their biggest financial
commitments and decisions. With more than 15 years'
experience, he works with individuals, families, and business
owners to help them build and protect their wealth. He utilizes
a process that integrates a wide range of financial strategies,
which organizes his clients' financial world into a consolidated,
comprehensive plan. He has been featured in PVMA's
professional development courses and speaking engagements,
and is often featured in our quarterly magazine, Keystone
Veterinarian. Contact him on Linkedin, bit.ly/2V8ATSb, to
be added to his " Veterinarians Only " group to plan out your
financial future, where he provides helpful advice every week.
http://www.bit.ly/2V8ATSb

PVMA Keystone Veterinarian Fall 2021

Table of Contents for the Digital Edition of PVMA Keystone Veterinarian Fall 2021

PVMA Keystone Veterinarian Fall 2021 - 1
PVMA Keystone Veterinarian Fall 2021 - 2
PVMA Keystone Veterinarian Fall 2021 - 3
PVMA Keystone Veterinarian Fall 2021 - 4
PVMA Keystone Veterinarian Fall 2021 - 5
PVMA Keystone Veterinarian Fall 2021 - 6
PVMA Keystone Veterinarian Fall 2021 - 7
PVMA Keystone Veterinarian Fall 2021 - 8
PVMA Keystone Veterinarian Fall 2021 - 9
PVMA Keystone Veterinarian Fall 2021 - 10
PVMA Keystone Veterinarian Fall 2021 - 11
PVMA Keystone Veterinarian Fall 2021 - 12
PVMA Keystone Veterinarian Fall 2021 - 13
PVMA Keystone Veterinarian Fall 2021 - 14
PVMA Keystone Veterinarian Fall 2021 - 15
PVMA Keystone Veterinarian Fall 2021 - 16
PVMA Keystone Veterinarian Fall 2021 - 17
PVMA Keystone Veterinarian Fall 2021 - 18
PVMA Keystone Veterinarian Fall 2021 - 19
PVMA Keystone Veterinarian Fall 2021 - 20
PVMA Keystone Veterinarian Fall 2021 - 21
PVMA Keystone Veterinarian Fall 2021 - 22
PVMA Keystone Veterinarian Fall 2021 - 23
PVMA Keystone Veterinarian Fall 2021 - 24
PVMA Keystone Veterinarian Fall 2021 - 25
PVMA Keystone Veterinarian Fall 2021 - 26
PVMA Keystone Veterinarian Fall 2021 - 27
PVMA Keystone Veterinarian Fall 2021 - 28
PVMA Keystone Veterinarian Fall 2021 - 29
PVMA Keystone Veterinarian Fall 2021 - 30
PVMA Keystone Veterinarian Fall 2021 - 31
PVMA Keystone Veterinarian Fall 2021 - 32
PVMA Keystone Veterinarian Fall 2021 - 33
PVMA Keystone Veterinarian Fall 2021 - 34
PVMA Keystone Veterinarian Fall 2021 - 35
PVMA Keystone Veterinarian Fall 2021 - 36
https://www.nxtbook.com/hoffmann/PVMA_KeystoneVeterinarian/PVMA_KeystoneVeterinarianFall2021
https://www.nxtbook.com/hoffmann/PVMA_KeystoneVeterinarian/PVMA_KeystoneVeterinarianSummer2021
https://www.nxtbook.com/hoffmann/PVMA_KeystoneVeterinarian/PVMA_KeystoneVeterinarianSpring2021
https://www.nxtbook.com/hoffmann/PVMA_KeystoneVeterinarian/PVMA_KeystoneVeterinarianWinter2021
https://www.nxtbook.com/hoffmann/PVMA_KeystoneVeterinarian/PVMA_KeystoneVeterinarianFall2020
https://www.nxtbook.com/hoffmann/PVMA_KeystoneVeterinarian/PVMA_KeystoneVeterinarianSummer2020
https://www.nxtbook.com/hoffmann/PVMA_KeystoneVeterinarian/PVMA_KeystoneVeterinarianSpring2020
https://www.nxtbook.com/hoffmann/PVMA_KeystoneVeterinarian/PVMA_KeystoneVeterinarianWinter2020
https://www.nxtbookmedia.com