Financial Planning for Economic Security
Economic Security is basically a state of mind or sense of well being whereby an individual is relatively certain that he/she can satisfy basic needs and wants, both present and future. The lack of this sense of well being or state of mind brings about economic insecurity. Some of the primary causes of economic insecurity are Retirement, Health and Mortality (1).
Economic insecurity regarding retirement include concerns regarding:- the sufficiency of retirement income from various sources to retire in an economically secure manner,
- receiving the social security benefits now being promised,
- one's ability to work after retirement, if one so chooses, and
- the form of pay-out that will optimize economic security for one's family.
- the sufficiency of one's current funds to cover health care costs for oneself or a family member, and
- the financial consequences of having to cover unexpected or catastrophic health care costs, especially if the health problems are accompanied by the inability to work.
- the economic security of dependents if one should die prematurely,
- the sufficiency of resources should one or one's spouse live to a very old age, and
- facing financial difficulties if one's spouse should die prematurely.
Other security issues may be caused by concern over being prepared for other life events such as saving for your child's college education.
GetFinancialAdvice.com is a website created for the sole purpose of helping you address these economic insecurities of life and finding the financial products to help you become economically secure. Getfinancialadvice.com will help you achieve economic security by:- identifying the causes of economic insecurity
- finding financial products from top-notch companies to eliminate the causes of economic insecurity,
- comparing and analyzing different financial products that are in the market place,
- answering your questions about economic security,
- providing financial/investment advice for your specific situation, and/or
- referring you to one of our financial advisers in our adviser network.
(1) Economic Security in an Aging Population, Robert L. Brown