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Mature Couple Preparing for Retirement

You have put in years of hard work and now you are headed towards a peaceful retirement. Sounds perfect, right? Unfortunately, most people find retirement a bit terrifying. If you are used to working a full-time job and having a steady paycheck, the idea of constructing a new lifestyle for retirement can be a scary proposition.

You may find yourself asking questions like “how will I be able to support myself?” or “what will I do with so much free time?” To help you out, SOGO Wealth & Risk Management has listed four ways to help you prepare for retirement:

  1. Be prepared:
    Having access to enough resources that can support your life is the key to financial security. Most of us have social security, and if that’s all you have, you need to plan on living within it. If you do not have a pension, you may look into your IRA or 401(k) to provide you with extra income. Have some debt? Make sure to pay that off before retiring so you will not have to worry about squeezing that into a fixed income.
  2. Create a budget:
    You should have a plan before you start building your retirement life. Think about the expenses you will be making in the coming years. You can estimate your housing expense, insurance, car, travel, and food costs. Look into your current lifestyle and use it as basis.
  3. Focus on your health:
    Medical issues are the biggest threat to retirement security. Health problems will not only affect your financial security, it can also affect your lifestyle. Sign up for health insurance and make a realistic assessment of your health and accommodate any physical limitations.
  4. Cherish family and friends:
    A caring spouse, loving family or good friend make a difference when you retire! Just because you are planning on retiring does not mean you have to retire from life. You can go out, volunteer or babysit to help you achieve a sense of autonomy and self-worth.

Retirement may seem daunting because there are a lot of unknowns, but the team at SOGO Wealth & Risk Management can help you along the way. We can assist you with investment accounts, life insurance, a health savings account, estate planning, and so much more. Give us a call at (210) 499-5050 or email us at 

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