Bill Broich
, Founder
Annuity.com
8 Important Facts About Retirement Planning
Suppose you don't have enough saved for retirement. Research shows that the average American has $95,776 saved for retirement, and 1 in 3 Americans have no retirement savings. If this sounds like your situation, you might consider several options, including working during retirement, downsizing your home, or delaying your Social Security benefits. You should also be aware of the potential costs of nursing care and long-term care. You might also need to adjust your savings withdrawal rate as you get older. With careful planning, you can ensure a comfortable retirement.
Retirement can mean many different things to people. For some, it will be a time to travel and spend time with family. For others, it will be a time to start a new business or begin a charitable endeavor. Regardless of what approach you intend to pursue, here are nine things about retirement that might surprise you.
- No Age Restriction on When You Can Retire
- Retirement Income Can Be Taxable
- You Might Need to Adjust Your Withdrawal Rate
- Consider Delaying Your Social Security
- Don't Forget the Cost Of Nursing Homes.
- You Might Have to Downsize Your Home
- Consider Working in Retirement
- You Might Need to Save More Than You Think
Bill Broich
Annuity.com
E. 171 Okonek
Grapeview, Washington 98546
bill.broich@retirevillage.com
(360) 701-6209
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