If you’re like most people who think about retirement, you probably imagine traveling in your golden years. Before you browse Acapulco websites and whip out the credit card to buy your ticket, make sure your finances can handle your trip.
Your Social Security benefits may turn out to be the flagship of your retirement income. Filing for benefits even a few months late or early, though, and you can significantly increase – or cut – your income. Here’s what to know and how to avoid tripping up.
The state of Americans’ retirement savings is unsettling. Too many people in middle-class America do not set anything aside for their retirement, nor have a healthy attitude toward it. If you’re asking yourself “Could this be me?” then it’s time to take a hard look at your retirement planning.
Retirement is one of the biggest life changes you ever make. Think through all the smaller changes also likely to happen to you. Be prepared before the big day comes.
Retire early with seven figures socked away? A million bucks isn’t what it used to be to live a lengthier-than-normal stretch of golden years. Here are some tips to better your odds.
Think you have Social Security filing all figured out? There are many kinds of benefits and many ways to make sure you can file for all those benefits you want. Just know about a rule you probably never heard of: deemed filing.
When you plan for retirement, an exciting new phase of life, double-check your expectations. They may not match the reality.
Retirement is one of the biggest changes you ever make. Too often I see people regret retiring. They did not think through some of the problems that are likely to happen. You don’t want to be part of that group. Instead, think about retirement in a way that helps you decide whether you are ready for the big day.
How can you get comfortable with uncertainty about retirement income? Establish a prudent figure for the coming 12 months, pre-set your possible decisions for market dips and update your plan annually. Your plan may even contradict what you thought you knew about spending in the golden years.
How much can you spend in your retirement? Answering this pivotal question requires you look hard at your current spending and how long you can expect to live – and at new approaches to using both factors in your plan.
An important part of your annual update of your retirement plan is new facts and circumstances. The problem: You may overlook important variables even as basic as the right retirement age.