save money. Pay attention to your employer-sponsored retirement plans to accumulate savings. Understand that social security, which has been a traditional form of retirement income, may not be around in 20 years, at least not in its present form. “Even if you count on social security, you most likely cannot live solely on this income,” Marquez advises. “To live sustainably, you must plan to have other sources of financial support.” Don’t Underestimate Healthcare Costs “People tend to drastically underestimate their cost of medical care after retirement,” Escayg says. “Some don’t think they will get sick as they age. Others wrongly think Medicare will cover everything. The cost of healthcare is continually rising and it can easily cost an individual over $5,000 a year in just out-of-pocket expenses. Health insurance premiums are also rapidly increasing, and become We are creatures even more expensive as we age.” of habit. Many During your younger years people believe – when you are busy working that when they and raising a family – it can be difficult to find the time to retire, they’ll consider your financial options spend less for retirement. Working with money. It doesn’t a financial advisor will help ease the process and also work that way. bring clarity to your plan. “We remove emotions and we base everything on facts,” Marquez says. “We run the numbers, and for some people this becomes a real reality check. They begin to understand the need to have a financial plan. If necessary, we assist them with budgeting, maximizing their contributions to tax-deferred accounts and taking care of their income so they can enjoy financial freedom at every age.” Escayg, Marquez and their associates help clients set and achieve realistic financial goals. “We create longterm relationships. Everything in life changes – incomes, goals, health, careers and more. What remains constant is our dedication to helping our clients successfully navigate through those changes and to be prepared for the unexpected,” Escayg adds.
Escayg and Associates 455 East Medical Center Boulevard, Suite 280 Webster, TX 77598 832.224.4919 Ameriprise Financial and its representatives do not provide tax or legal advice. Consult your tax advisor or attorney regarding specific tax or legal issues. Investment advisory services and products are made available through Ameriprise Financial Services, Inc., a registered investment adviser. Ameriprise Financial Services, Inc., Member FINRA and SIPC. January 2015
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