Most people are aware of the fact that the baby boomer generation is reaching the typical retirement age at the present time. This is resulting in huge numbers of people being faced with the prospect of putting their working years behind them.
Statistics are indicating that a high percentage of these individuals are really not ready to retire, and many of them will never be able to do so because they do not have sufficient financial resources.
One of the problems is a misconception about exactly how far Social Security is going to take you. During this calendar year the average payout has been just over $1,200 per month. Even the maximum monthly benefit of $2,513 (this is the maximum in 2012) is not going to finance a life of luxury and pure leisure.
Your first thought may be that the dividing line between those who can retire and those who cannot is income level. You may assume that those who earn a very good income will be able to retire and those who live on a more modest income will be left out in the cold.
In fact this is not the case. People who make a lot of money can spend a lot of money. Those who perhaps make a bit less can choose to work within an intelligently conceived framework and save a lot of money over a number of decades
It is all about careful advance planning coupled with the discipline that it takes to stick to the plan. If this make sense to you, the logical course of action would be to sit down and discuss your goals with a proven local Indianapolis retirement planning attorney.
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