One of the biggest obstacles during retirement planning is figuring out how much you can spend during your golden years. A popular guideline for retirement income is the “4% Rule,” but is this rule worth considering during your own planning? In this article, we dig deeper into the 4% rule, so you and your financial professional can decide if it’s right for you.
Everyone has their “big dream,” that once-in-a-lifetime experience that, for many, is their goal for retirement, the long-term reward to collect at the end of a successful career and financial plan. No matter what your dream is or how close you are to retiring, your preparations can begin right now.
With the new year approaching, many are getting ready for their 2023 resolutions. This is the perfect opportunity to set your financial goals for the year and get on track to a financially stable future. Use these five goals as a guide for your planning, and make 2023 the year you take full control of your finances and make progress towards the future about which you’ve been dreaming.
While your retirement strategy should not depend on it as your sole source of income and financial security, deciding when to claim Social Security can make a difference in your monthly bottom line. Just like with actually entering retirement, to minimize the amount of stress both financial and emotional that you experience, timing is key.
Social Security has a history as old as humanity itself. Understanding the purpose and the intentions behind the Social Security program in the United States will help you understand why it is a valuable asset in your retirement preparation and the importance of timing when you apply for Social Security benefits.
How much should you save for retirement? Determining how much money you need in retirement is a process. It shouldn't be a number that you pull out of thin air. Your financial professional can help identify some of these financial and lifestyle factors you should consider when deciding how much you should put aside for retirement.
