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Review Your Retirement Plans, Elder Law Attorney, Woodstock, GA


On the whole, Americans are woefully unprepared for retirement. If current trends continue, it will be an even bigger problem than you might imagine.

When it comes to Americans and retirement savings, study after study shows the same thing. The average American saved far less than experts think they will need.

There are many reasons for this situation, but the reasons for not saving are not as important as what it means for future senior citizens.

The biggest problem is that even people who think they have saved more than enough might need to evaluate their own plans and save more. This warning is provided by the New York Times in “Rethinking Retirement for Longer Lives With Fewer Safety Nets.”

The biggest issue is simply that people are living longer than ever before, on average. That trend is expected to continue as medical science progresses. No one is certain just how long people will live after retirement in the future.

People who have planned to save for 20 years of retirement living might actually need to save for 30, 40 or even more years. This also creates problems for elderly safety nets.

Social Security, Medicare and Medicaid are already under financial stress because of the large number of Baby Boomers entering their retirement years. The longer people live, the more that those programs will need to pay out. Many people believe the programs will have to offer substantially fewer benefits in the future.

If you want to retire comfortably and still have an estate left for your children and grandchildren to inherit, then it is important that you review your retirement plans and make sure you really are saving enough.

Reference: New York Times (Feb. 27, 2017) “Rethinking Retirement for Longer Lives With Fewer Safety Nets.”

 

Hear From Our Clients
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I heard Cindy’s presentation at a Senior Luncheon at my church, and was very impressed. She helped my daughter and me understand many aspects of elder law. Josh has also been very helpful in my planning to enter an independent living situation . I have told many friends about them.

- Charlotte

The very best elder law attorney and staff anyone could ever ask for! I have referred a number of clients to Cindy and she never disappoints. She is kind, caring, and extremely thorough in making sure everything is completed as it should be. I highly recommend Cindy for anyone needing lawyer services; she truly goes above and beyond for every client she helps and has had a huge impact in so many peoples’ lives. Thank you, Cindy and staff, for everything that you do- I’m so glad to know you!

- Kerri

Cindy and the Nelson Elder Care Law team are trustworthy and helpful. They are the experts in elder care law. At Leaf Cremation, we entrust our families to the care of the Nelson team when their services are needed.

- Pierce

Josh Nelson, and his staff, have been amazingly helpful to our family. The ins and outs of nursing homes, the rules and regulations that govern Medicare and Medicaid are daunting and the folks at Nelson Elder Care Law have been informative, responsive, and above all, empathetic. I cannot emphasize enough how their service has taken a weight off of our shoulders especially during a world pandemic that has targeted nursing homes across our country. I highly recommend retaining Josh and his firm!

- Marcia

I had a simple legal question to them that I needed answered and they very helpful in giving me the information I needed. I highly recommend them and will reach out to them if I need more advice or assistance. Thank you for taking your time to just answer a couple of questions I had!

- Ben