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Delaying Retirement as a Strategy to Deal With Financial Planning’s Uncertanties
Like so much in life, planning for your financial future in retirement is not easy. There are many unknowns, and many variables that even the best, most well-trained financial planners can’t adequately prepare you for. So, what should you do. Well, as set forth in a post by MIchael Maiello on review.chicagobooth.edu, one of the simplest tools you have is to defer the start of your retired life. Quoting from a University of Michigan’s Health and Retirement Study, his article notes that “delaying retirement by three to six months has the same impact on the retirement standard of living as saving an additional one-percentage point of labor earnings for 30 years.” So, it might be worth considering, particularly if you find yourself lagging in your financial planning goals. Read Maiello’s post here…
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