Entries in Retirement (5)
PROTECTING and PRESERVING YOUR RETIREMENT
Now that life expectancy has increased, a new challenge is added to the “stay at home parent” conundrum; staying home to care for an aging parent. Making the leap to take time off to act as caregiver has personal benefits as it does for the child, parent, or ailing spouse, but can be costly when retirement closes in. The excitement of opening a new life chapter makes it easy to ignore the future. Paring down to a single income can be daunting. How can individuals make up ground to minimize impact on retirement when it is necessary to take some time off?
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Preparing for Retirement
Retirement signals the beginning of a new lifestyle. For many of us, it is a long awaited relief from working for many years. Unfortunately, when the moment arrives, many retirees are without direction for the new life. They may have studied and sought financial planning advice, but there isn’t too many places to go for “what-do-I-do-now” advice. If retirement is around the corner for you (five years or less), here are some action plan points to consider before the final retirement day arrives.
Retirement: Planning For Your Future
Whether you’re starting out, moving towards retirement or somewhere in between, it’s always a good idea to have some basic money management skills to assist you in getting your finances in order. Here are a few tips to get you started:
Retirement with a Purpose
While the age of retirees has changed only slightly over the last decade, (you may start receiving benefits as early as age 62, but the full retirement age is increasing to age 67), the longevity of retirees is growing at a much faster rate. Retirees are taking advantage of better health by reentering the workforce or starting their own businesses, but studies show that pre-retirees still cling to traditional images of retirement, such as spending more time with loved ones.
Three major points to ponder while saving for retirement
So the good news is you’re saving for retirement. That puts you ahead of over half of working America! But, now what? Am I saving enough? Do I want to leave money to heirs, charities? Am I investing my savings properly? All points to ponder as you travel the road to retirement. Below are some main points on these questions to ensure a more sound retirement plan.