When you think of retirement, where do you see yourself? You might be lying under the Florida sun, or maybe you are living close to your children and grandchildren. Perhaps you used your financial independence to open up the small business you always dreamed about. Did you know that Philadelphia was ranked as the 13th best place to retire? Maybe staying in your hometown is the way to set yourself up for financial success. 

“It’s incredible to see my hometown of Philadelphia recognized as a top place to retire. Philly is my birthplace, so I fully understand why people are choosing to put down their retirement roots here—with the great food scene, rich culture, and deep history, it’s the perfect place to enjoy the next chapter of life,” says Michael A. Scarpati, Founder & CEO of RetireUS. 

The best thing about retirement is having the ability to do whatever you want. There are no limitations on having to clock in for your 9-5 because you are now your own boss. But just because you dream about retirement does not mean it will just happen all on its own. You have to be proactive about your savings and make sure you are ahead of the game. It’s never too early to start saving for retirement. The road to financial independence might feel like it is out of reach, but following a financial plan can help turn your dreams into reality. 

The reason a financial plan is so important is because it is an organized way to see how your savings will turn into financial independence. If you are just saving blindly, the path will be unclear. Asking for advice and turning to a financial advisor for help is one way to stay proactive over your investments and savings. Not only can they help you create a manageable plan, but they can help you learn from your mistakes and prevent future issues. 

Are You Falling for These Personal Finance Myths?

Retirement calculators are the perfect resource 

This is false. They often do more harm than good because they do not include costs such as inflation and healthcare expenses. You might think you are on the path to retirement, but these sudden costs can add up and throw you off your tracks. 

Expectations equal reality

This is false. It’s okay to have goals for your retirement because you can use that as motivation to save, but there are always things that are out of your control. That’s why having a financial plan is necessary because it will help you stay organized when obstacles get in the way. There are expectations for retirement, and then there is reality. It’s always good to plan for the random surprises. 

All financial advisors are here to help

This is false. People actually need fiduciary financial advisors because they truly work for their clients. They are not allowed to make important financial decisions on your behalf. They must consult you on each and every decision, which provides a level of transparency and care that other financial advisors lack. Everyone deserves to know where their money is going, and fiduciary financial advisors make sure that happens. 

“Our goal is to give everyone cost-effective access to independent financial guidance so they too can realize their retirement vision. Just as Philadelphia is known for its Declaration of Independence, we encourage everyone to declare their financial independence and take control of their future. By connecting users with independent experts and offering streamlined tools, we simplify the path to a secure and fulfilling retirement,” explains Scarpati. 

If you have fallen for these myths in the past, it’s okay. But it’s important to be proactive about finding help that will get you back on the right track towards your financial independence. Whether you retire in Florida, New York or Philadelphia, RetireUS has you covered. Your dreams for retirement can become a reality.

Disclaimer: This content is for informational purposes only and is not intended as financial advice, nor does it replace professional financial advice, investment advice, or any other type of advice. You should seek the advice of a qualified financial advisor or other professional before making any financial decisions.

Published by: Annie P.