Before we go any further, let’s clarify one thing: For any adult, a financial advisor is a good idea, particularly if they have significant funds to manage. For those 55 years of age and up, it can become essential that a professional be of assistance when it comes to finances.

If you’re interested in 55+ apartments in Flower Mound, TX and/or surrounding areas, you might be asking yourself one big question: “Do I have the funds I’ll need?” Maybe you want to travel. Do you have the money you’ll need to do that? You may also ask yourself, “Is my money safe?” You could probably use some advice.

With a financial advisor, retirement age adults can receive assistance with the following services.

Tips On Fraud Prevention

Retirement age individuals are, sadly, fraud victims all too often. Scammers are not always easy to identify, so a financial advisor – who knows the ropes when it comes to fraud – may be able to help you identify a scam before it affects you financially.

Filling in the Gaps

Not everyone plans for retirement. If this is the case, it’s particularly important to maximize the funds you have and will have in the future, and spend it appropriately. There may even be a way to continue saving while retired.

Healthcare Planning

This can be a difficult area to plan for. Unless you are aware of health problems already, it’s a guessing game, at best, how your health will change in the future. Remember that Medicare won’t cover absolutely all costs. Affordable insurance options should be sought out, particularly if pre-existing conditions exist.

Estate Planning Advice

You may have made plans for your estate and already drafted a will, but paperwork can and should be double checked by a financial advisor. They will also help you ensure an accurate inventory of your accounts and assets has been taken. Make sure nothing slips through the cracks.

Tax Efficient Withdrawal Set Up

It’s important, when tapping into your savings, you do so in a tax efficient manner. You may also want to receive some advice as to whether to wait until full retirement age to take Social Security or receive just a little bit less by taking it earlier (62 years of age).

Budgeting

A retirement budget can be something that changes as the years progress. What may have seemed like an ample amount on which to retire may become questionable if major health concerns arise, for example. Retirement lifestyles that include hobbies, travel, etc. need to keep the money those require in mind when it comes to setting up and maintaining a budget.

Enjoy Independent Living Near Flower Mound, TX

By residing in one of today’s Independent Living Retirement Communities, you may actually be able to save money over what you spent as a homeowner. Consider all of the expenditures you experienced monthly/annually when owning a house and car. Not only will you be able to delete some of those costs entirely, everything will be combined into one convenient payment when living in a retirement community. That makes it easier to budget and know, ahead of time, whether or not you’ll have “mad money” with which to take a trip, buy presents for the grandkids, go out to lunch, etc.

We have beautiful one- and two-bedroom apartments available. If you’d like more information about our retirement community: