Some things you have no influence over. You may have some power to affect other factors. Are you worried about retiring? Many baby boomers are, and they have reason to be, given low interest rates, subpar returns on equities, increasing health care costs, and the issues facing Social Security.
Now, do yourself a favor. Read that last sentence again, and ask yourself, “which of those four things can I control?”
The correct answer: none of them. That may be frightening,
Financially speaking, what moves might you want to make? By choice or by chance, some people wrap up their careers before turning 60. If you sense this will prove true for you, what could you do to potentially make your retirement transition easier? As a start, you may need to withdraw your retirement funds strategically.
The I.R.S. wants you to leave your retirement accounts alone until your sixties. To encourage this, it assesses a 10% early withdrawal penalty for most sa
A few things you may want to think about before filing for benefits. Whether you want to leave work at 62, 67, or 70, claiming the retirement benefits you are entitled to by federal law is no casual decision. You will want to consider a few key factors first. How long do you think you will live? If you have a feeling you will live into your nineties, for example, it may be better to claim later. If you start receiving Social Security benefits at or after Full Retirement Age (
A lack of money is but one answer. Common wisdom says that you should start saving for retirement as soon as you can. Why do some people wait decades to begin?
Nearly everyone can save something. Even small cash savings may be the start of something big if they are invested wisely.
Sometimes, the immediate wins out over the distant. To young adults, retirement can seem so far away. Instead of directing X dollars a month toward some far-off financial objective, why not use