When someone says that their ideal retirement age is before the age of 65, and especially if it’s significantly before then, the first question I ask is, “What is your plan for health insurance?” You see, while it may be a lot of clients’ #1 goal to retire as soon as financially possible, what a lot of them don’t factor in is the impact of this one question....
Think 10% is an Appropriate Savings Rate? Not if you Want to Retire Before Age 70
In another tidbit from Fidelity’s Retirement Savings Assessment study, the firm took a look at the impact your retirement age has on the appropriate annual savings and withdrawal rates. See their findings below:
An early retirement would mean that you have less time to save and a longer retirement to fund. The average age for retirement is 62....
How to Stretch your Nest Egg in Retirement
I’m passing along the following list from Fool.com. It’s a great reminder for retirees that saving and planning for retirement should and does not end once you leave the full-time workforce. There are a number of actions that can be taken to continue to secure your retirement beyond those done in your working years. When possible, all should be implemented, especially as we continue to live longer and the need to stretch our nest eggs gets more imperative...