You're retired. This is happening now with your finances?

According to the National Center for Health Statistics, the average life expectancy for an American today is 78½. However, many people can live 20 to 30 years past what is considered typical retirement age of 65, the challenge is how to organize your financial resources so that you will have sufficient income throughout these retirement years.

The median income of the retired population is around $ 18.700 for people 65 and older. In 2010, Social Security, on average, accounted for 40% of their income. Pensions and annuities accounted for 20%, property income accounted for 12% and the result of profit accounted for 27%.

According to the Social Security Administration, the average monthly benefit for retired workers was only $ 1,230 per month in early 2012. Can you pull on it?

A survey by the Employee Benefit Research Institute (EBRI) found that the percentage of workers saying they have saved for retirement fell by 75% in 09 to 65% in 2012. Only 42 % of respondents said they have tried to calculate how much money they need for retirement, and 16% of workers were not sure of having enough money for retirement.

When will you retire?
Although retirement usually occurs around age 65, the age does not necessarily indicate a complete end to employment. Many retirees continue to participate in the workforce for financial reasons and not financial.

You need to evaluate your current financial resources to determine if you have sufficient income during your retirement years. If the pension income provided is not sufficient, additional income must be allocated to save for retirement. You must understand the importance of saving for the future and start it as early as possible in life. If job changes occur, you should keep your retirement accounts as you move from job to job.

Because retirement planning is a multi-dimensional business, you should consider how best to distribute and preserve assets. Retirement planning does not end at retirement; the retirement planning has put the regime

You must be aware of the options available which include :.

• health care resources such as supplements Medicare and Medicare Advantage
• Life insurance for final expenses, income replacement, lack of assets, children with special needs, legacy planning and the needs of the estate tax
• short-term and long-term care options for the protection of assets, the choice of care and needs survival of the Joint health
• financial products such as life income annuity to provide income and beyond the normal life expectancy. You can live 30 or more years after retirement.

All these issues must be discussed with your agent and / or advisor to ensure you have the best advice and guidance for a secure retirement.