Hopefully you’ll have adequate resources so that you’ll have some flexibility in when you start taking Social Security, and that you won’t be forced to start taking it early just so that you can make ends meet.
Bayside, NY (PRWEB) March 05, 2013
Personal Finance expert Walter Edelstein, CFP® has published new retirement advice on important retirement milestones individuals between the ages of 50 and 70 need to focus on. Consumers need to get objective information on best practices they can use to improve their financial situation. RetirementAdvice.com is one of the sites that are part of TheAdvice.com Personal Financial Site Network that provides consumers with free information and easy to implement practical ideas to help them achieve their personal financial goals. Following is a summary of the new content which is one of the many new “How to” articles that have been published on TheAdvice.com Personal Finance Site Network.
Entering retirement isn’t a single event – it’s a series of steps that are taken over time in order to transition into whatever “retirement” means to an individual. Many of these steps are ones that might be taken earlier in life, such as setting up various IRA and 401(k) accounts and contributing to them regularly throughout working years.
But there will also be a number of different milestones that are passed when one nears retirement, or even already in retirement. In fact during the two decades between the ages of 50 and 70 individuals have many decisions that they need to be focused on. Following are some of the milestones that need to be considered:
1. When to Cease Full Time Employment. While the idea of a working retirement is gaining popularity, many people still envision their retirement years as a time when they’re free from full-time work obligations. This milestone is not only a significant change in terms of lifestyle, but also in terms of the current income that an individual brings in.
2. When to Begin Taking Social Security. According to Mr. Edelstein "hopefully you’ll have adequate resources so that you’ll have some flexibility in when you start taking Social Security, and that you won’t be forced to start taking it early just so that you can make ends meet." Remember that the longer one waits before beginning to receive Social Security benefits, the greater the monthly benefits will be (although they won’t increase any further after age 70). Figuring out when is the best time to begin taking benefits will be one of the most important retirement milestones during this period.
Click here to read the full article on RetirementAdvice.com
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TheAdvice.com Personal Finance Site Network was launched in 2009, and since then has provided consumers with hundreds of free articles and financial tips across a broad array of personal finance topics. Several of the sites in TheAdvice.com Personal Finance Site Network include:
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Mr. Edelstein has financial experience that spans over thirty years. It includes being a Certified Financial Planner™, having a Master's Degree from Columbia University, and having served as Chief Marketing Officer for a major online bank where he honed his online marketing skills to help consumers achieve their financial goals.
TheAdvice.com proudly reaches out with this network of personal finance websites to help individuals and families discover the path to financial knowledge.