David Giertz has been speaking out for a long time on a sad truth in American society. That truth is that the majority of Americans will not have enough money saved once reaching retirement age.
A substantial amount of money can be necessary to facilitate a comfortable retirement. This is especially true for individuals that retire early and are blessed with a long and healthy post-retirement life. However, for those individuals who have only saved enough money to survive for a few years, their retirement dreams can quickly become a nightmare.
David Giertz is an expert at helping Americans prepare for retirement and has the following brief advice for those facing retirement in a few years and perhaps did not begin to plan early enough.
An idea that may be obvious to some is to move to a part of the country with a lower cost of living than where you presently are. Also, if living in a big city it is important to remember that these cities cater to working professionals and are usually more expensive to live than a smaller city would be.
David Giertz also explains that for more daring individuals that are willing to spend their golden years in a foreign country that there are a number of locations where a high level of living can be attained for much less money than in the United States.
Plan For Retirement Income
David Giertz recommends that some type of income is maintained during retirement years. This income can be passive or active in nature but is necessary to have in the event an emergency arises.
Take A Close Look At Your Retirement Benefits
Payments from social security are usually of a modest nature but many times can be just the extra money that is needed to provide the needed boost to live out retirement years.
Giertz explains that it is also important to understand the impact on your quality of life that will result from early retirement as partial government retirement benefits cannot be accessed until the age of 62 and full benefits require the retiree to be 66 years of age.