For many people, the thought of being able to retire at the age of 55 is very appealing. By this time, you have done most of the work of raising your family and gotten most of the successes you wanted to from your career, best of all, you’re still active and healthy enough to be able to enjoy most of your favorite leisure activities for years- possibly even decades. However, the truth is, taking retirement at the age of 55 is considered an early retirement. You’re still about seven years before you will even be able to collect partial retirement benefits. Retiring while you’re young- and … [Read more...]
How to Start Saving for Retirement at 50 and Still Be Prepared
Spending lavishly and not thinking of your future expenses or retirement benefits can put you in a great fix. Proper planning of your finances at an early age, preferably right from the time you start earning is the right way to secure your finances. Though most people have a retirement savings planned on early in life, there are some who neglect the retirement needs totally. If you belong to the latter category and think it is too late to start saving for retirement at 50, fortunately you can still do it! It’s high time you devoted some attention to your financial planning. Even if you … [Read more...]
Retirement Income Solutions to Live Comfortably for Years to Come
You’ve finally reached the age of retirement. You’re looking forward to a life of boating, golfing, or traveling. However, for most retirees, these dreams far exceed reality. US News and World Report says that around 86% of retirees only receive approximately $12,000 per year from social security, which isn’t always enough to live on - much less finance those pie-in-the-sky dreams. In fact, many retirees must continue working even after retirement, which adds about $20k per year to their income. But what’s the point in retiring if you must continue to work? Retirement can be expensive. … [Read more...]