How much should seniors save for retirement in Shreveport?
Despite the fact that research shows that retired senior citizens in Louisiana are able to live comfortably on less than the national average, in reality, many seniors are not even close to that figure by the time they have reached the age for retirement. This means that, without another source of supplementary income, they might have a hard time covering their living expenses.
Savings required to live comfortably | Average retirement age | Average life expectancy | Average yearly expenses | |
---|---|---|---|---|
USA | $944,280 | 64 | 78.2 | $54,700 |
Louisiana | $776,987 | 62 | 75.5 | $48,320 |
Enlisting the expert services of a Texarkana or Shreveport financial advisor for seniors can ensure that your aging loved one is prepared for the financial realities of retirement so that they do not find themselves reliant on others. They deserve the financial security to enjoy their golden years in comfort.
Why are Shreveport seniors and others expecting to work past age 65?
Far too many seniors have inadequate retirement savings by the time they reach retirement age, which means that they lack the resources to cover their living expenses. While some might be able to supplement their income with assistance from their loved ones and the government, the number of older adults that need to continue working past 65 in order to survive is absolutely staggering.
Will keep working after 65 because they don’t have enough money
Will keep working after 65 because they don’t feel social security benefits will cover their needs
Will keep working after 65 because of rising costs including healthcare
One of the ways that you can help spare your aging loved one the unfortunate reality of having to continue working when they reach the age of retirement is by getting the expert guidance of a senior financial advisor in Shreveport. With proper financial planning, your senior can enjoy financial security while living a rich and fulfilling life in their golden years.
What to look for when selecting a senior financial advisor in Shreveport
One of the first things you’ll want to do is evaluate the needs of your senior. Do they need help managing their assets and investments or with day-to-day finances like paying bills and purchasing household goods? Remember that financial needs can change along with your aging loved one’s circumstances so it is important that financial plans are regularly reviewed to ensure that they are aligned with their needs. Next, you will want to make sure that person the Shreveport financial advisors for seniors that you are considering are well-qualified. You can and should ask for references and read any online reviews. You can also explore word-of-mouth recommendations from other seniors and their caregivers. Take the time to meet with a few professionals in person- just because everything looks good on paper does not mean they will be the right fit for your senior’s needs. For more information, have a look at our comprehensive guide to choosing a financial advisor for seniors.
Financial advisors for seniors in Shreveport
Every senior deserves to grow old with their dignity and independence fully intact, as well as the financial stability and security to ensure that they never have to be compromised. Seasons can help your find the right Shreveport financial advisor for seniors to ensure that your senior enjoys an excellent quality of life in their golden years.