Should we count on Social Security benefits when we plan for retirement? Yes, but there are caveats. Is the Social Security funding in trouble? Yes, but sensible legislation can and will be passed to shore up this important part of retirement for generations to come.
Figuring out whether you can retire requires understanding “how much is enough” for a portfolio size at retirement. In other words, “what is your number” for Day One at retirement. We explore the basic variables, calculation, and sensitivity analysis around this important question in retirement planning. Accompanies Episode 4 of The Retirement Oasis Podcast.
Phasing into retirement by working part-time may offer several advantages over stopping to work cold turkey. The benefits could include monetary benefits, helping you gradually discover your schedule in retirement or new passions in retirement, or helping you determine if retiring is indeed what you want in the first place.
What are some tips for finding fulfillment in retirement? Planning ahead, experimentation, being open to new opportunities, putting the past behind you, and having a growth mindset are a good start.
Your retirement years can perhaps be the most meaningful period of your life. Designing an ideal retirement consists of striking the right balance of play/leisure, connections, renewal, and work. Non-financial issues are just as important -- if not more -- than the financial issues. How will you plan for the non-financial issues in retirement?
Pent-up demand for travel and adventure is arguably at an all-time high. Going on explorations related to culinary and beverage experiences may be to your liking. Ranging from new local restaurants to The Bourbon Trail or Whiskey Trail or to various international wine tours, the ideas are endless. What adventure awaits you?
Asset Allocation is the process of dividing a portfolio’s assets into investment classes based on the investment objectives of the investor. While this concept is fundamental to building a portfolio for the short- and long-term, there are alternative approaches to get there. Are you or your advisors adhering to the optimal approach?
Should I pay off debt as I approach retirement? It’s not an easy question, and you should consider both financial and non-financial aspects. Debt, if done right, can indeed be an arrow in the quiver as one enters retirement.
