Retirement Planning Insights from the Wealthy

12:50 pm Uncategorized

Leading global wealth management firm Barclays Wealth recently released a report entitled, How the Wealthy Are Redefining Their Retirement, and it has some insights into retirement planning for just about everyone, not just the rich.

From interviewing 2,000 high net worth individuals around the globe, Barclays found that:

Many plan to never retire.  Even if they have little or no financial reason to do so, many of the wealthy plan to keep on working.  Why?  Because for many, work is their passion and they are driven to keep taking on new projects and continuing to grow their wealth.  Barclays calls them the “Nevertirees”.

Many realize life is unpredictable. While generally confident that they can predict how much money they will need to maintain their current lifestyle in retirement, wealthy individuals are less confident about predicting the state of their health in the future or how their investments will fare.  So, no crystal balls, just like the rest of us.

Many think estate planning is essential. Most wealthy individuals believe that careful estate planning is essential to their ability to enjoy life in later years, whether it is planning on if or how they will retire and how retirement is funded.

The retirement paradigm is shifting not only for the wealthy but, because of today’s economic environment, for a majority of Americans as well.  Taking time now to plan for your financial future is probably one of the best investments you can make for you and your heirs.  Contact our California estate planning law firm to get started.

Get started by contacting our Orange County asset protection estate planning law firm as soon as possible.

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