Summerlin Benefits Consulting Q&AAnswer
Oct 18, 2024 - 09:54 AM
To ensure financial stability and a fulfilling lifestyle in retirement, take these key steps:
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Assess Retirement Timing: Consider your pension, financial readiness, and desire to continue working. Some people prefer to keep working past 65, either full-time or part-time.
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Solidify a Financial Plan: Manage your 401(k) or IRA wisely, reducing portfolio risk as you near retirement. Consider safer investment options like Fixed Index Annuities (FIAs) to protect your savings from market volatility while allowing for growth.
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Plan Early: Whether you're in your 40s or 60s, it's never too early to start planning. Younger people benefit from compounding interest, while those closer to retirement should focus on safety and legacy planning.
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Understand Medicare: At 65, most will enroll in Medicare. Make sure to understand its coverage and whether you need supplemental plans.
These steps will help secure both financial security and a fulfilling lifestyle during your retirement years.
