While we can't predict the twists and turns life may take after retirement, one thing is certain: change is inevitable.
Life changes often require making adjustments or considering new alternatives regarding your retirement plan. What will you do if you divorce, remarry or become ill or disabled?
Change does not have to mean that you have to give up your dream of a financially sound retirement. Wachovia can help keep your retirement goals intact in spite of significant changes. A Wachovia Retirement Specialist will work with you to analyze your retirement plan and provide recommendations on how to adjust your plan to reflect your new direction.
You can schedule a complementary consultation with a Retirement Specialist by calling (888) 840-2517 (8:00 am- 6:00 pm ET, Monday-Friday).
Significant Life Changes
Marriage
Purchasing a home, saving for vacations, building an emergency fund — these are just a few of the choices newly married couples face. Whether you're newly wed or have been married a long time, it is important that both partners understand each other's retirement goals and strategies, what that shared retirement will be like, and how much each partner will contribute to retirement plans.
Death of a Spouse
This can have a profound effect on your retirement savings whether or not you have prepared. How much income will you have? How much will it cost you to live? Does your health care plan cover a surviving spouse in the event of the other's death? Many retirement plans and insurance policies provide for an annuity payment after retirement. It is important to remember there are several choices to consider when reviewing your retirement savings.
Disability or Illness
Life insurance may protect your loved ones if you die, but you may want to also consider a disability insurance policy in case you become physically or mentally incapacitated. Among other benefits, such policies can prevent your retirement assets from being depleted by the costs of long-term care or loss of earning power.
