Turning 65 today is very different than it was even just a few decades go. Instead of planning for the next 10 or 15 years, you are planning for the next 20 or 30. This means your money is going to have to stretch much farther, and you need to be realistic  when planning the next stage of your life. This doesn’t necessarily mean you can’t have the retirement you want, but that you may need to make a few more sacrifices to get it. A financial planner can help you decide the best path to take toward your goals. Adult children should also be made aware of your plans and how you intend to involve them.

Close to 66 percent of seniors cite finances as the primary reason why they remain at work. The recommended rule of thumb is to have eight times your starting salary saved by age 60. Remaining in the workplace can help defray the cost of health insurance, life insurance coverage and disability insurance, as employers tend to cover a portion of the expense.

McHARRIE LIFE SENIOR COMMUNITY offers independent retirement care, assisted living, memory care, respite care, skilled nursing care, and short-term rehabilitation. To tour our senior community at 7740 Meigs Road, Baldwinsville, please call (315) 638-2521.

P.S. If you have an estimate of your retirement expenses, you will be able to better plan for them now.