May 14, 2013
Getting What You Need for Retirement
You can’t always get what you want. But if you try sometimes you just might find you get what you need.
Rolling Stones, 1969.
There is nothing better that most people can do to get what they’ll need in retirement than delaying when they start collecting Social Security.
The recent PBS documentary, “The Retirement Gamble,” sounded the alarm for many viewers who may be ill-prepared for the financial challenge of a long life – and not much retirement savings in the bank.
To address this growing issue, financial advisers often emphasize retirement-survival strategies to their baby boomer clients. These strategies revolve around the complexities of figuring out how much to save, how to invest, or the best way to spend one’s 401(k) assets post-retirement.
But the real problem facing most Americans is that they have meager balances in their 401(k)s – or none at all.
Putting off when one claims Social Security “is the best deal in town,” concluded an analysis by Steven Sass, program director at the Center for Retirement Research, which supports this blog. …Learn More