Let's say you’re 6 months shy of your 60th birthday. You are 59½ to be exact. Why is that age so
significant? It signifies a turning point of sorts in your life—on a number of fronts. In particular, the IRS allows you to make withdrawals from your retirement account without incurring a penalty. It is also nearly a decade after you were granted the right to contribute more to your IRA fund. In 30 months you’ll be eligible to claim Social Security benefits. You’re 66 months away from Medicare eligibility.
If you’re moving toward retirement and you have little or no money in retirement savings, you’re not alone. Most Americans have less than $1,000 in retirement savings set aside. Financial professionals urge older workers to focus on saving rather than spending. A more common and typically unproductive approach to retirement saving is setting wrong priorities: Spend first, save second. A smart way to find the right plan for saving funds is to seek advice from a financial professional.
In this whitepaper, we explore your retirement options, your health-care concerns, and how to obtain the best advice to move vibrantly into those golden years. We also turn back the clock to take a quick look at how history may have shaped your outlook.
If you have questions about what you read, we encourage you to reach out to [email protected] and one of our team members will get in touch with you.