There are three circumstances that affect how your family fares in the future:
- Your lifespan and how much money you accumulate over your lifetime.
- Your family’s access to resources if you pass away unexpectedly or prematurely.
- Your ability to meet your financial needs if you become disabled—and your family’s ability to meet your financial needs if you can’t.
These three considerations carry even more weight now than they did twenty years ago. People have longer lifespans, and because of that, you have to rely more on your personal savings to supply your retirement lifestyle. That’s why it’s extremely important to diversify your tax strategy for retirement. Read our article, Retirement Has Changed, to learn about how taxes affect your retirement and how you can plan for your best future, no matter how long that future is.
