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Retirement and Social Security Readiness–A Quick Assessment - Kiplinger
For many folks approaching Social Security eligibility, the decision about when to take that benefit-claiming step is not an easy one. After all, it’s permanent, and it tends to be based on some very fundamental unknowns–like, for example, how long you will live in retirement. Nobody really has definitive answers to these unknowns, but they still call for careful reflection before taking the plunge and claiming benefits.
For those close to retirement, Kiplinger contributor Jeremy Keil offers some help to get you started in reaching a decision in this critical area. His post suggests three fundamental questions that can help you decide your readiness to retire, and they begin with the very basic issue of what level of income you expect to need to support your chosen lifestyle in retirement. This is logically followed by the timing of your claim on Social Security benefits, then followed by adjustments to your investment strategies. Overall, this is a worthwhile read that can help you get started…check it out here.
This posting is presented for informational purposes only and does not represent legal or financial guidance. Any opinions or interpretations presented are either those of the original author or, in the case of articles authored by the AMAC Foundation, are the opinions of AMAC Foundation staff, originally trained and accredited by the National Social Security Association (NSSA) and certified via the AMAC Foundation. Any links included in the article are valid on the posted date; socialsecurityreport.org cannot guarantee the duration of the links’ validity. NSSA and the AMAC Foundation and its staff are not affiliated with or endorsed by the Social Security Administration or any other governmental entity. To submit a question, visit our website (https://amacfoundation.org/services/) or email us at ssadvisor@amacfoundation.org. Because we are a non-profit organization, there is no charge for these services.