It’s About Time to Spring Forward!

Spring Flowers

It’s About Time to Spring Forward!
By John Armato, CPA, PFS

Daylight Saving Time is about to begin. This practice of turning the clocks ahead one hour is meant to extend daylight in the evening hours. What if you applied the same principle to your finances?

Can you “Spring Ahead” toward your financial goals?

If you turn up the savings now, you may have more to take you through your retirement years. This month, why not consider increasing what you’re putting away for the future – even if it’s only by a small amount? After all, every extra dollar you save now could make a big difference in your “golden years.”

Will your retirement dreams match your reality?

That’s perhaps the most critical question to ask people who are currently retired. Was your retirement what you expected, or was it something else?

In your retirement strategy, you’ve likely put a good deal of thought into putting away enough money to enjoy your life, once you’ve put the daily grind in the rearview mirror. Like many, you’ve probably planned for a bit of travel, time to pursue your interests and favorite activities, and to maintain your current lifestyle (or perhaps, even improve upon it).

It’s also important to anticipate other needs as well. While you may be already thinking about your health insurance, including Medicare, it’s important to remember that you may, at some point during your retirement years, require some sort of extended care.

A 2017 report from shows that 69% of Americans turning 65 are going to require some sort of extended care. An American Association of Retired Persons report for the same year indicates that 14% will need it for more than five years. If you’re thinking, “that adds up,” you’re right.1

The good news is that as you are strategizing for the good life, you also have choices when it comes to thinking about extended care. For most, retirement is the “next chapter” in life. It’s critical that your finances support your retirement vision, so there are no surprises when it’s your turn.

Let us know if there’s a change in your retirement dream. We’d welcome the chance to hear what prompted the difference, and we’ll be sure to make any needed adjustments in your financial strategy.

We are here for you. Every season.


  1. The Motley Fool, September 2, 2018