How to figure out the right retirement age.
By Diana Bunch, Financial Advisor
May 12, 2015
When can you retire? Since January 1st, 2011 every single day more than 10,000 Baby Boomers will reach the age of 65. That is going to keep happening every single day for the next 19 years.
Questions someone approaching retirement might ask:
- Do I have enough money?
- When should I take Social Security?
- Will Social Security still be there for me?
- What income can I expect?
- Will it be enough?
Unfortunately, too many retire before addressing those questions. On average, 35% of Americans over the age of 65 rely almost entirely on Social Security payments alone. And according to another survey, 24% of U.S. workers admit that they have postponed their planned retirement age at least once during the past year. Emily Brandon of US News gives us the details why age 65 is no longer when people expect to retire.
Approximately 3 out of 4 Americans start claiming Social Security benefits the moment they are eligible at age 62. Did you know there are several ways to structure your benefit? Many of which could mean thousands of dollars more in your pockets.
Planning has never been more important. We have tools available to help you find the answers to questions concerning retirement income. The more information you have the more prepared you will be. The more prepared you are the more relaxed you will be when you transition from working for a living to just living!
I'm happy to help you find your answers now, not when it’s too late!
Email Diana if you need guidance.
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