How much should seniors save for retirement in Des Moines?
One of the biggest things that a Des Moines financial advisor for seniors can help with is figuring out how much money your loved one needs to retire. As you’ll see below, residents of Iowa need less for retirement than the average United States citizen. But they do still need a hefty amount, which will take a lot of planning to achieve.
Savings required to live comfortably | Average retirement age | Average life expectancy | Average yearly expenses | |
---|---|---|---|---|
USA | $944,280 | 64 | 78.2 | $54,700 |
Iowa | $820,698 | 65 | 79.4 | $47,494 |
If your senior isn’t on track to hit this target, then it’s crucial to be proactive about intervening. A Des Moines financial advisor for seniors can help them come up with a plan that works for their current situation and ensure that they’re set up to have the best golden years possible, despite their financial difficulties.
What should seniors in Des Moines expect from Social Security?
Social Security is a huge help for seniors across the United States. It provides consistent income, which can supplement other retirement savings accounts. But as you’ll see below, the number of Social Security beneficiaries has gone up over time. This has prompted some to worry about how reliable it is as a system moving forward.
A senior financial advisor in Des Moines can help your loved one figure out the right way to use Social Security income as a part of their retirement plan. They can also help them work out contingencies in case their checks from Social Security end up being lower than they initially expected.
What to look for when selecting a senior financial advisor in Des Moines
When you’re looking for a Des Moines or Ames financial advisor for seniors, there are a few key factors to keep in mind. One is the professional’s level of experience and qualifications. You want someone who can really give your loved one actionable advice, so it’s important that you hire someone with the credentials needed to do that.
When you hire a financial advisor, one typically maintains a relationship with them for a long period of time. That means it’s also going to be important to ensure that your senior likes working with the advisor. It can be helpful to give them a chance to meet one another before signing any contracts.
If you’re looking for more detailed information, take a look at our comprehensive guide to choosing a financial advisor for seniors to learn more.
Financial advisors for seniors in Des Moines
Des Moines financial advisors for seniors can help your loved one get on the right track for retirement. The assistance they provide can make it much easier for your senior to enjoy their golden years without having to worry about their finances. It could also mean that you end up having to provide less financial support to your loved one as well. So why wait? Take the first step toward finding the right financial planner for your senior by using the free resources on Seasons to get started today.