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Effects of a Global Pandemic on Lifespan and Retirement Goals

Effects of a Global Pandemic on Lifespan and Retirement Goals

The global pandemic has brought uncertainty to the world in many ways. From health concerns and unemployment to economic challenges, COVID-19 has changed the way we live. The effects have also brought changes, both positive and negative, to lifespan expectations and retirement goals. It’s exposed both the strengths and weaknesses of our retirement systems. 

 

LifeGuide Partners can help you understand and weather these changes. As a financial expert in the industry, offering guidance and financial planning assistance for seniors, know that our team is ready to help you find innovative solutions that work best for you and your family. 

 

The Impact on Retirement Goals

It’s no surprise that the global pandemic has spurred market volatility. However, having a plan in place can redefine your retirement goals or financially survive any losses experienced as a result of the pandemic. It’s a time of opportunity and one that LifeGuide Partners can help you with going forward. 

 

For individuals who have already retired, if you’ve done an excellent job of planning your retirement, it’s likely you already have a strategy in place to maintain income during your retirement. It may be best to let the process run its course versus making drastic changes. However, if you don’t have a strategy in place, it’s time to talk to the professionals at LifeGuide Partners, who can offer alternatives that may include cashing in your life insurance policies or redefining your retirement plan. 

 

For those who have not yet retired, but plan to within the next ten years, it’s time to position your assets to allocate for future income. Planning is even more critical now during a global pandemic due to the uncertainty of another wave that could occur within a year or over the next 10 years. A dramatic market plunge due to this pandemic or future pandemics shouldn’t delay your retirement. Uncertainty over current employment may also be weighing on your mind, which begs the need for looking into alternatives that LifeGuide Partners professionals can offer. 

 

For individuals who do not plan to retire within 10 years and plan to be in the workforce a bit longer than expected due to the pandemic, planning is also a necessity. If financially able, continue making regular contributions to policies, pensions, and retirement accounts. Avoid making bold or risky investments and putting your money where it will best serve you. 

 

The uncertainty associated with the global pandemic can be frustrating for individuals at any stage of life. It’s uncertain if our lifespans will be shortened or extended, and knowing how to protect yourself and your family for the future is not something to put off, especially now. See how the experts at LifeGuide Partners can help you plan and gain the peace of mind you need. 

 

Find the Support You Need with LifeGuide Partners

LifeGuide Partners offers financial information and guidance to seniors, access to a highly experienced referral network of planning professionals, and a safe and secure process for retirees to plan for the future. We offer innovative solutions, including selling your life insurance policy, if no longer needed. Don’t miss out on cashing in on your greatest asset. Contact us today to learn more about how we can assist you with your life insurance questions and concerns. 

Stephen E. Terrell

Stephen E. Terrell is president of Life Guide Partners. He may be contacted at stephen@lifeguidepartners.com.