How Much is Enough to Retire?
Southfield, MI – Michael McGee, a financial advisor, recently spoke to a group about investment savings for retirement. “Before you retire, you will have spent 40 to 50 years working hard, raising a family, buying a home and hopefully, saving for a comfortable retirement. Unfortunately, many who are reaching retirement age today find that they did not allocate enough to retirement.”
Michael was most concerned with the prediction that many people in their 20’s to 30’s today may find themselves still working past the age of 70 if they do not make wise choices now.
One couple in their late 50’s confided to Michael that they counted on the equity in their home for a portion of their retirement savings. With the home nearly paid off, they anticipated selling it for a large profit, then paying cash for a smaller home and still having some left over. This was certainly a possibility before the decline in home values.
Michael said, “In today’s economy, we are discovering that the investment in one’s home is not enough, but it is a good start. As long as you’re not forced to sell in a down market, the equity in your home can be helpful.”
Michael McGee is a financial planning expert who specializes in retirement planning. He works with clients to create a financial analysis so they can see the big picture and make wise investment choices. Read Michael’s articles on http://retirementplanningoaklandcounty.blogspot.com/
Contact:
Michael S. McGee, MBA
Financial Advisor
888 West Big Beaver Suite 850
Troy, MI 48084
248-720-0300
Email: mcgeeaug@
This press release was submitted by Right Now Marketing Group, LLC
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