Retirement Lifestyle: Are you Prepared?

Retirement Lifestyle Are you PreparedIn our last post, we discussed the Financial Implications of Retirement. Let us now take a look at the lifestyle aspect and if your retirement is planned accordingly. Before you live out your work-free dream, don’t hesitate to install a CT Personal Insurance solution to safeguard your future.

Health Care- As employers rarely provide health care coverage in retirement, it is essential to get your insurance coverage in order prior to retiring. At 65, you will qualify for Medicare Part A which rarely requires a premium. However, if extended coverage is needed, Part B coverage costs an average of $105 a month. Also, if you retire early, you’ll need an independent insurance policy depending on your specific situation and needs.

Living Arrangement- Are you planning on downsizing in retirement or staying in your current home? Do you want to move to another climate or location altogether? No matter how you plan on carrying out your retired lifestyle, ensure you are saving enough money to fund those goals. Last but not least, make sure your spouse is on board with the plans, if applicable.

Consider Smaller Picture-Getting a feel for what you’d like to do day to day is just as important as bigger picture ideas such as health care and retirement location. Activities, social circles, and hobbies should all be considered when you plan your ideal retirement lifestyle. Real Deal Retirement recommends using retirement resources and tools on the web to assist you with your decision making. Further, it is recommended that you do trial runs of activities and location visits to see what works for you.

At Byrnes Agency, we are here to help with all of your insurance inquiries. We offer a variety of personal insurance solutions aimed to protect your assets and your property. To learn more about our offerings, contact our specialists today at one of our three locations.

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Dayville Office

Phone: (860) 774-8549
394 Lake Rd
Dayville, CT 06241
United States
info@byrnesagency.com
Hours of Operation: Monday- Friday 9:00am-5:00pm

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Norwich Office

Phone: (860) 886-5498
6 Consumers Avenue
Norwich, CT 06360
United States
info@byrnesagency.com
Hours of Operation: Monday- Friday 9:00am-5:00pm

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Woodstock Office

Phone: (860) 928-7928
1226 Connecticut 169
Woodstock, CT 06281
United States
info@byrnesagency.com
Hours of Operation: Monday- Friday 9:00am-5:00pm

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