When Can I Retire?

When should you retire?
When you retire isn’t only based on your age – it’s also based on your retirement fund. It’s recommended that you have around 12 times your pre-retirement salary saved before you stop working.

When should you start using Social Security?
Although you can start taking Social Security benefits at 62, you’ll receive more if you wait until 70. You should also consider that most states tax your Social Security Benefits.

Should you still have an emergency fund?
Even the best retirement plans can be ruined because of unexpected expenses. In addition to what you have saved for your future medical expenses, you should continue to have an emergency fund, just like you did during your career.

Should you move?
Some people choose to move after they retire to save on the cost of living, to pay lower taxes, or to expand their community. Moving can save you money during retirement and can allow you to be closer to your family.

Do you have an estate plan?
Regardless of your net worth, it’s important to have an estate plan to name your beneficiaries and save your loved ones from undue tax burdens.

What does your portfolio look like?
Your portfolio should change as you near retirement. Your appetite for risk should wane in favor of more conservative investment options that can supplement your income.

Financial security in retirement doesn’t happen by accident. By working with a financial professional, together we can plan for a financially independent retirement. Planning ahead for your retirement can help you better protect your current net worth as well as gain a clearer understanding of your potential future financial needs. 

Don't go it alone.  Feel free to contact the office if you’d like to discuss further.  My goal is to become your investment professional for life. Not merely someone who watches over your investments from time to time, but a friend who watches out for your financial wellbeing all of the time.

^{This communication is designed to provide accurate and authoritative information on the subjects covered. It is not however, intended to provide specific legal, tax, or other professional advice. For specific professional assistance, the services of an appropriate professional should be sought.}