Retirement Planning is Like Evolution…? Say What? It’s something I haven’t thought about before but it makes sense. If evolution is all about adapting, and therefore, changing ourselves to better suit our current conditions, then it might as well be just like retirement planning, especially in the current financial climate. Older Americans, especially, regardless of the plans they might have had in place before the recession, are now having to reconsider, reinvest and change their previous plans drastically. In a sense, they are evolving. Their plans are evolving. Their lifestyles are evolving. Just like learning, you should never stop evolving financially because unexpected situations can put a damper in previously solid plans. In an article by FOX Business, “How Retirement Planning is Like Evolution,” Richard Barrington talks about ways retirement planning has evolved in the face of past, and present, finance crises.
  1. Don’t invest passively.
  2. Put your bank on trial.
  3. Manage your career.
  4. Be prepared to work longer.
  5. Spend realistically.
On a larger scope, retirement planning has become more about doing your research than ever before. The first suggestion involves taking into account the current financial situation, more than ever before. Investing should always yield more reward than risks, so taking into consideration where most people are getting the most returns for the less risk should be part of every retirement plan. The second suggestion is a powerful tool for getting the most out of your savings account. Investigate the amount of interest your being paid on your savings and regularly compare fees and services with other banks so you always get the most out of your investments. Remember, banks are there to serve your needs to the best of their ability, anything less than what you expect should be grounds for changing banks. The third suggestion is especially important if you are planning to retire later than originally planned. This is quickly becoming a reality for many Americans so, in order to stay competitive in the job market, keep yourself updated as much as possible. It’s incredible how many jobs are lost for lack of preparation–the only benefactor is you if you habitually update your skills. The fourth suggestion ties into the third because the faster you prepare yourself, and get into the mindset, that you will have to work longer than you had planned, the better it’ll be. It might also be a powerful motivator for you to start gathering information and updating yourself to make the most out of the extra years you will be at work. The last suggestion is possibly the hardest to consider, but the most helpful. If you aren’t able to save enough, or at all, on your current paycheck, then it’s definitely time to make some changes. Setting a saving goal for each paycheck is a helpful way to save for the future without having to deprive yourself of anything. If you do, you will be rewarded in the future with a comfortable retirement. As the savings gap reaches $14 trillon, it’s time to think about your retirement years. A reverse mortgage mortgage can help you supplement your retirement years. Interested in a reverse mortgage? Let us know at PS Financial Services by calling (888) 845-6630 or sending us an email at We do not pressure those who inquire. Click here for more information about the elimination of the reverse mortgage program as we know it: