Getting close to retirement? Here are 6 key considerations

[longknife]

I wasn’t prepared when my retirement plans went awry. Are you?

The often-overlooked expense

Know your Social Security strategy

Evaluate income and tax strategies

Check risk in your retirement accounts

Have a cushion

Prepare emotionally

“One of the hardest things that retirees face is the notion that their retirement account, which has been growing while they worked, will be going down in value over the course of retirement as they make withdrawals,” Herr said. “People can get really uncomfortable with that.”

More details @ Getting close to retirement? Here are 6 key considerations

 

[Mikeoxenormous]

I wasn’t prepared when my retirement plans went awry. Are you?

The often-overlooked expense

Know your Social Security strategy

Evaluate income and tax strategies

Check risk in your retirement accounts

Have a cushion

Prepare emotionally

“One of the hardest things that retirees face is the notion that their retirement account, which has been growing while they worked, will be going down in value over the course of retirement as they make withdrawals,” Herr said. “People can get really uncomfortable with that.”

More details @ Getting close to retirement? Here are 6 key considerations

273,000 union workers and retirees brace for pension cuts

May 2 2016,
About 273,000 union workers and retirees are about to learn the fate of their pensions.
The struggling Central States Pension Fund is in such bad shape that it's seeking government approval to cut benefits -- and the ruling is expected to come this week.

This is under Obama, not President Trump.


Never rely on someone else to pay you for your retirement. You should be investing into the stock market that has great Dividend Payouts between 4% to 10% per year. You should hold off as long as possible to take those dividends because if they are reinvested till time is needed, you could have a very large income when ready. Never panic in a down market, because the market will(unless a liberal like Bernie Sanders gets in) go up, and keep an eye on what the investments are doing, if they are growing or shrinking. It isnt that hard, for common sense people, but since liberals dont have common sense, they will rely on the government or a union to take care of them. Just remember that he who is promising you a great retirement will get their great retirement before you get yours. Also dividend income is taxed at a much lower rate than a pension which is taxed as income tax. Learn the secrets of uber rich liberals, and avoid paying taxes like I have. It really is that easy..

These are 4 words of wisdom for the wise investor.

JUST REMEMBER DONT PANIC.


When the market is going down, your dividend reinvestments are buying more stocks, when the market is going up, your dividend reinvestments are buying less stocks but the gains are going higher. Cost averaging over a period of time can make you millions...




Dont think "what if I die when before I get to 72". Think "what if I live to be 102". That is 30 years of dividend and possibly capital gains for those 30 years....

 

[Weatherman2020]

I wasn’t prepared when my retirement plans went awry. Are you?

The often-overlooked expense

Know your Social Security strategy

Evaluate income and tax strategies

Check risk in your retirement accounts

Have a cushion

Prepare emotionally

“One of the hardest things that retirees face is the notion that their retirement account, which has been growing while they worked, will be going down in value over the course of retirement as they make withdrawals,” Herr said. “People can get really uncomfortable with that.”

More details @ Getting close to retirement? Here are 6 key considerations

And get a professional financial advisor. Personally I use Schwab.

 

[Mikeoxenormous]

I wasn’t prepared when my retirement plans went awry. Are you?

The often-overlooked expense

Know your Social Security strategy

Evaluate income and tax strategies

Check risk in your retirement accounts

Have a cushion

Prepare emotionally

“One of the hardest things that retirees face is the notion that their retirement account, which has been growing while they worked, will be going down in value over the course of retirement as they make withdrawals,” Herr said. “People can get really uncomfortable with that.”

More details @ Getting close to retirement? Here are 6 key considerations

And get a professional financial advisor. Personally I use Schwab.

So do I.

 

[MarathonMike]

What do you guys think about taking SS at age 62 vs delaying? My philosophy has always been "Get paid early as possible" for everything.

 

[HenryBHough]

Think about buying SOME gold and stashing it in a foreign country where, may God forbid, it may be safe from liberal Democrats next raid on non-illegals.

 

[Weatherman2020]

What do you guys think about taking SS at age 62 vs delaying? My philosophy has always been "Get paid early as possible" for everything.

The big question. Takes years to make up for not taking it. I’m leaning taking it at 62 because I have my health and can travel, and I’m spending SS money instead of my savings. Down side is the larger check may help when I’m an old broken down fart.

It’s really a roll of the dice.

 

[MarathonMike]

What do you guys think about taking SS at age 62 vs delaying? My philosophy has always been "Get paid early as possible" for everything.

The big question. Takes years to make up for not taking it. I’m leaning taking it at 62 because I have my health and can travel, and I’m spending SS money instead of my savings. Down side is the larger check may help when I’m an old broken down fart.

It’s really a roll of the dice.

I agree with all that. I also want to make sure I get out what I paid in and according to the SSA they will become insolvent in about 15 years.

 

[task0778]

2 things:

1. Health care expenses - you better be thinking ahead to how you're going to deal with the issues of old age, chief among them being health care. For most people, if you abuse your body now then it will abuse you later, and trust me it won't be pretty.

2. Budget your spending now to leave something for later - after you retire you don't want your money to run out before you do. People talk about having enough money but not enough about what to do if you don't, so have a Plan B, and a Plan C. And don't let a hurricane, flood, or forest fire wipe you out.

 

[Tax Man]

Work until you die. No problem with saving anything!

 

[Hossfly]

What do you guys think about taking SS at age 62 vs delaying? My philosophy has always been "Get paid early as possible" for everything.

When I was 62 I opted to collect SS then instead of waiting for 65 which was in effect at that time. I calculated that if I started at 62, it would have taken 17 years for the total amounts to equalize if I had waited till I was 65. Now the age is more than 65 and most people would be dead before the total equalizes. It's best to start at 62.

 

[HenryBHough]

Work until you die. No problem with saving anything!

Liberals?

Work?

Silly little kid!

 

[MarathonMike]

Work until you die. No problem with saving anything!

Spoken like a true Socialist. Pay taxes until the day you keel over. No thank you.

 

[MarathonMike]

I wasn’t prepared when my retirement plans went awry. Are you?

The often-overlooked expense

Know your Social Security strategy

Evaluate income and tax strategies

Check risk in your retirement accounts

Have a cushion

Prepare emotionally

“One of the hardest things that retirees face is the notion that their retirement account, which has been growing while they worked, will be going down in value over the course of retirement as they make withdrawals,” Herr said. “People can get really uncomfortable with that.”

More details @ Getting close to retirement? Here are 6 key considerations

273,000 union workers and retirees brace for pension cuts

May 2 2016,
About 273,000 union workers and retirees are about to learn the fate of their pensions.
The struggling Central States Pension Fund is in such bad shape that it's seeking government approval to cut benefits -- and the ruling is expected to come this week.

This is under Obama, not President Trump.


Never rely on someone else to pay you for your retirement. You should be investing into the stock market that has great Dividend Payouts between 4% to 10% per year. You should hold off as long as possible to take those dividends because if they are reinvested till time is needed, you could have a very large income when ready. Never panic in a down market, because the market will(unless a liberal like Bernie Sanders gets in) go up, and keep an eye on what the investments are doing, if they are growing or shrinking. It isnt that hard, for common sense people, but since liberals dont have common sense, they will rely on the government or a union to take care of them. Just remember that he who is promising you a great retirement will get their great retirement before you get yours. Also dividend income is taxed at a much lower rate than a pension which is taxed as income tax. Learn the secrets of uber rich liberals, and avoid paying taxes like I have. It really is that easy..

These are 4 words of wisdom for the wise investor.

JUST REMEMBER DONT PANIC.


When the market is going down, your dividend reinvestments are buying more stocks, when the market is going up, your dividend reinvestments are buying less stocks but the gains are going higher. Cost averaging over a period of time can make you millions...




Dont think "what if I die when before I get to 72". Think "what if I live to be 102". That is 30 years of dividend and possibly capital gains for those 30 years....

Dividend Reinvestment is by far where we have made the best returns over time. It is emotionless dollar cost averaging.

 

[Tax Man]

Work until you die. No problem with saving anything!

Liberals?

Work?

Silly little kid!

No I am a 70 year old man who still has business concerns going. What do you have? Mama's basement?

 

[Tax Man]

Work until you die. No problem with saving anything!

Spoken like a true Socialist. Pay taxes until the day you keel over. No thank you.

Earn money and have a great life. Why worry about taxes?

 

[Mikeoxenormous]

What do you guys think about taking SS at age 62 vs delaying? My philosophy has always been "Get paid early as possible" for everything.

Of course take it as soon as possible. If you dont really need the supplemental income invest it into stocks, if you are getting lets say $1,500 a month and buy a stock like Ford at $8 a share, that is almost 200 shares a month, that pays 6% return or 0.15 a share. that is 30 dollars a quarter and if you reinvest it for 10 years, you could possibly have over $250,000. That at 6% is 15,000 a year or about $1,250 along with SS now you are up to $2750 a month. and still dont have to touch the principle. I haven't reached 62 yet, but will in 2 years, I am going to do exactly what I showed, some with Ford, some with AT&T and other high paying dividend stocks. If I dont have to touch it, I hope in 30 years I will have over 1 million dollars all from SS.. I already have over 10 mil, I dont really need it, but I am going to take it, because I paid max into it..

 

[MarathonMike]

Work until you die. No problem with saving anything!

Spoken like a true Socialist. Pay taxes until the day you keel over. No thank you.

Earn money and have a great life. Why worry about taxes?

OK I get it that there are people who love to work if that's what you mean. I have had a good career as an engineer but there are many other things I would rather do than engineering.

 

[HenryBHough]

No I am a 70 year old man who still has business concerns going. What do you have? Mama's basement?

What do I have?

The training and skill to recognize incipient Alzheimer's. But usually it takes more than a single avatar selfie to make the diagnosis conclusive. Thank you for having made it so easy,

 

[2aguy]

I buy lots of lottery tickets....that should do the trick...