The Biggest Expense in Retirement?
by Derek L. Gregoire, Co-founder
Most people don’t think about inflation as being an expense in retirement.
But it is.
Imagine this scenario…
You’ve budgeted $6,000 a month to cover your expenses in retirement. And you have enough retirement savings to cover this $6,000 a month until your 90th birthday.
So you think you’re set.
But given inflation rates today of 6.4% , in less than 10 years that $6,000 a month could turn into more than $11,000 a month just to maintain your same lifestyle in retirement.
So in less than a decade, your monthly retirement expenses could almost double.
Now, think about what these expenses might look like 20 or 30 years down the road.
It’s safe to say it could easily double again, and maybe even again.
Needless to say, this could cause you to run through your entire life savings far too soon.
Inflation is a challenge even when it’s at normal levels of 2 or 3%. But when the cost of everyday items goes up by 5%, 6% or 7%, even if it’s just for a few years, it becomes a serious problem.
To learn how you could help defend your nest egg from continued inflation, contact us at (866) 746-2401 or ask@shpne.com.
The content of this advertisement was prepared by TRIAD Partners. The information presented is for educational purposes only and intended for a broad audience. The information does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or Investment Advisory Services are offered through SHP Wealth Management LLC., an SEC registered investment advisor. Information presented is for educational purposes only and does not intend to make an offer or solicitation for the sale or purchase of any specific securities, investments, or investment strategies. Investments involve risk, and unless otherwise stated are not guaranteed. Be sure to first consult with a qualified financial advisor and or tax professional before implementing any strategy discussed herein. Hypothetical examples and illustrations are for example purposes only and individual results will vary. Insurance sales are offered through SHP Financial, LLC. These are separate entities, Matthew Chapman Peck, CFP®, CIMA®, Derek Louis Gregoire, and Keith Winslow Ellis Jr. are independent licensed insurance agents, and Owners/Partners of an insurance agency, SHP Financial, LLC. In addition, other supervised persons of SHP Wealth Management, LLC. are independent licensed insurance agents of SHP Financial, LLC. No statements made shall constitute tax, legal or accounting advice. You should consult your own legal or tax professional before investing. Both SHP Wealth Management, LLC. and SHP Financial, LLC. will offer clients advice and/or products from each entity. No client is under any obligation to purchase any insurance product. Offices in Westborough, Marlborough, Dartmouth, and Braintree are offices of convenience and only used for client meetings. SHP Financial utilizes third party marketing and public relation firms to assist in securing media appearances, for securing interviews, to provide suggested content for radio, for article placements, and other supporting services. SHP Financial has qualified for multiple awards through various contests — some of which were based off of employee/ employer surveys, community votes, and/or paid entries.
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