How much should seniors save for retirement in Billings?
While studies show that, on average, seniors in the state of Montana need less in their retirement savings to get by compared to the national average, this doesn’t mean you should become complacent. Thanks to advances in technology and healthcare, seniors are living longer than they did before. This means that the figures below might no longer be applicable to your senior in a few years.
| Savings required to live comfortably | Average retirement age | Average life expectancy | Average yearly expenses | |
|---|---|---|---|---|
| USA | $944,280 | 64 | 78.2 | $54,700 |
| Montana | $839,096 | 64 | 77 | $54,205 |
Being proactive is important to secure your senior’s financial future and there is no better way to do that than by working with a Billings financial advisor for seniors. With their expert assistance, you can rest assured that your senior will be fully prepared to comfortably enjoy their golden years.
What should seniors in Billings expect from Social Security?
These days, people are living longer than they ever have before. This also means that the population of older adults in the United States is growing exponentially each year, increasing the number of people that are reliant on Social Security benefits, as can be seen from the helpful data below.
With the rising costs of essential goods and healthcare, seniors who rely on Social Security benefits as their sole source of income could find themselves struggling to afford to take care of their basic needs. Billings financial advisors for seniors can help ensure that seniors don’t fall short of what they need to live comfortably in the future.
What to look for when selecting a senior financial advisor in Billings
A great place to start your search for a good senior financial advisor in Billings is by considering the specific needs and circumstances of your aging loved one. Do they need assistance managing their daily finances and limiting unnecessary spending, or do they need help managing their assets and investments? Are they looking for help with short-term or long-term financial planning? Asking and answering questions like these can help you identify the best person to meet your senior’s needs. Once you have a few financial advisors in mind, make sure to check their qualifications and whether their standing is good with the professional bodies and organizations that regulate their industry and profession. You can also check their standing with consumer agencies such as the Better Business Bureau. Don’t be shy to ask for references, a good financial advisor would be happy to provide them. For more information, have a look at our comprehensive guide to choosing a financial advisor for seniors.
Financial advisors for seniors in Billings
Your senior’s financial security and preparedness are key to ensuring that they are able to maintain their dignity and quality of life as they grow older. A Billings financial advisor for seniors can help your senior get their affairs in order so that they can comfortably enjoy their golden years. You can rely on Seasons to guide you every step of the way.
