Are you looking for a financial service company to assist you with preparing for retirement or do you have other financial planning goals? There are different types of financial services and options that you may be interested in learning more about. When you meet with a financial planner at a financial service company, they will be able to discuss these important matters with you in detail.

Medicare Supplement Plan Options

Were you aware that just 1 in every 10 individuals enrolled in the Medicare program rely solely on this coverage? In addition to Medicare, 90% of these beneficiaries also have some type of supplemental health coverage. While some receive this additional coverage through their employers, others may have Medicare Advantage plans, Medigap, or a Medicare Supplement Insurance plan.

Many individuals with a low income, however, receive Medicaid. Due to their age and other issues, such as having a disability, there are approximately 45 million people currently enrolled in this program.

Traditional and/or Roth IRAs

Were you aware that you are able to save up to $5,500.00 a year in a traditional or Roth IRA? If you’re over 50 years of age, however, you are able to save an additional $1,000.00 a year.

Stock Portfolio Investments

If you’re thinking about creating a stock portfolio, these can potentially bring you a significant return over a long period of time. On average, when you maintain your investments, the average annual return will be around 9.5%. When you invest $5,000.00 a year for 30 years, for example, this could create a retirement fund of almost $750,00.00.

Social Security and Retirement

Many retirees have paid into the Social Security system throughout their careers. Once retired, however, 65% of these individuals receive approximately half of their income through Social Security benefits.

Recent figures show that 46% of workers in the United States have less than $10,000.00 saved for their retirement. Many Americans are concerned about their future standard of living once they retire. In fact, 88% are actually worried about being able to maintain a comfortable standard of living.

A 2015 survey showed that 50% of the individuals that retired did so earlier than they had originally planned. This was due to the following reasons:

• Health issues: 60%
• Company down-sizing or closure: 27%
• Caring for a spouse or family member: 22%

It is important to note, however, that only 31% of these retirees were actually able to afford an early retirement.

Currently, there are approximately 40 million senior citizens living in the United States. By 2050, it is estimated that there will be a total of 90 million. In addition to the increased demand for healthcare services, there will also be an increased need for senior housing and other essential services.

When you work with a financial service company, they will be able to provide you with individualized financial planning services based on your current situation. Whether you’re interested in creating a stock portfolio, purchasing a Medicare Supplement Insurance Plan, or making another type of investment for your future, they will be able to provide you with options.