Local Financial Professional Offers Retirement Income Strategies

MELVILLE, N.Y. - Feb. 27, 2015 - PRLog -- Melville, NY – When planning for retirement, incorporating sustainable income strategies is imperative to keep up with rising health care costs, inflation and more according to a local financial professional.

“There are several important factors to take into account when assessing your retirement options,” said Paul Doyle, Investment Professional for NEXT Financial Group, Inc. “Saving enough for retirement is not always the final solution. Creating ways to generate sustainable income when unexpected costs arise is just as important.”

Doyle outlines four different issues retirees typically face that their next eggs may not take into account, such as major health care expenses, inflation, withdrawal rates and life expectancy.

“Modern medicine and technology have positively impacted American life expectancy rates,” said Doyle. “People are now living longer and too many retirees are outliving their money—a problem we’ve only recently faced.”

Similar to life expectancy, the cost for health care has also seen a steady rise. Some retirees find it difficult to keep up with the cost of medication, long-term care and various other entities they need to maintain their lifestyle. Additionally, simple miscalculation of either withdrawal rates or inflation can cause detrimental harm to retirement savings if used for payment purposes of health care costs.

“Health care expenses, both foreseen and unexpected can wreak havoc on retirement savings,” said Doyle. “With health care costs continually under scrutiny and debate, planning is challenging but necessary. Financial advisors throughout the country are here to help people realize and approach a plan that can help ease the worry of unexpected costs during retirement as well as provide guidance for additional income strategies down the line.”

Paul Doyle is a local financial professional serving the needs of families, small business owners and retirees. With more than 14 years in the business, Doyle is an experienced professional with the skills and knowledge many need to help plan for their students’ educational future.

Securities offered through NEXT Financial Group, Inc. Member FINRA/SIPC. Paul Doyle’s office is located at 150 Broad Hollow Road Penthouse 3, Melville, NY11747 www.Investlongisland.com 631-351-8618