How to Plan for Retirement the Right Way

If you haven’t had any financial epiphanies since you became caretaker to your aging parents, well, maybe you are completely financially solid. But are you? Have you gotten your calculator out and started thinking through those what if situations that might take your finances to a catastrophic level? I had a dose of OMG’s while tending to my parents that caused me to drastically change my approach to retirement.

First, my only take away is to SAVE as much as you can. We think we need money now, but holy cow, if you or your spouse takes a medical turn, the cost is exponential. I recently read a great article on how much you should actually save prior to retirement. I was flabbergasted .

Check it out: https://www.northwesternmutual.com/life-and-money/can-a-couple-retire-with-2-million/

I am not a financial planner, nor am I highly knowledgeable about money, however, handling my parents’ finances has given me outright heartburn on what the future could look like if something happened to myself or spouse. You need to prepare, you need to consider a sudden illness and if you are a single income couple, you need to think about what you would do if something happened to your spouse.