How much should seniors save for retirement in Little Rock?
While the numbers below show that senior citizens in Arkansas are able to live comfortably with fewer retirement savings, this doesn’t make financial planning any less important. These days people are living longer than they ever have, which means that there is a chance that your senior could outlast their retirement savings.
| Savings required to live comfortably | Average retirement age | Average life expectancy | Average yearly expenses | |
|---|---|---|---|---|
| USA | $944,280 | 64 | 78.2 | $54,700 |
| Arkansas | $728,010 | 62 | 75.4 | $45,274 |
With the help of a senior financial advisor in Little Rock, your senior can plan and prepare for a future where they are financially secure, even if they live longer than anyone expected. A sound budget and a good financial plan can ensure that your senior is comfortable while living a long, happy, and healthy life.
What should seniors in Little Rock expect from Social Security?
According to the statistics below, the number of senior citizens who are beneficiaries of Social Security is rapidly increasing. The support that seniors receive, however, is often not enough to provide for all their needs and ensure that they are able to remain independent and self-reliant while safely aging in place.
Little Rock financial advisors for seniors can help your loved one manage their finances so that they do not have to rely on Social Security benefits as their only source of income when the time comes for them to retire. They can counsel your senior on how to make better financial decisions, stick to a budget, and cut down on unnecessary spending.
What to look for when selecting a senior financial advisor in Little Rock
You can start by carefully considering the specific needs and circumstances of your loved one. This will help you figure out what services to look for and narrow your options down. It is also important to check that any financial advisor you are considering is appropriately qualified and that their qualifications and certifications are authentic. You’ll also want to check whether they have good standing with professional bodies and consumer agencies like the Better Business Bureau. You are entitled to ask for references but you should ask whether they are compensated for giving positive reviews. Arrange to meet with several potential Little Rock financial advisors for seniors and don’t feel pressure to go with the first one you talk to. Shopping around a bit enables you to compare services and rates to find the best option for your loved one. If you’d like more information to help your search, check out our comprehensive guide to choosing a financial advisor for seniors.
Financial advisors for seniors in Little Rock
Working with a Little Rock financial advisor for seniors can help ensure that your loved one can enjoy financial security and a rich and fulfilling life throughout their golden years. You can count on Seasons to help you find the right financial advisor to meet your senior’s unique needs and circumstances.
