Freedom during retirement means something a little bit different to everyone: like being able to do what you decide with your time and money. After all, isn't that what you always heard retirement should be?
But how much money... and how much time will you have? Even if you have been preparing financially and have amassed what you think is an adequate retirement income, you may want to reassess. Often, people will base their retirement estimates on several mistaken, but commonly held assumptions regarding retirement and what various resources will provide. In many cases, the reality of retirement turns out to be quite different.
Given the impact of taxes, inflation and longer life expectancies, today's decisions could dictate tomorrow's retirement lifestyles.
New York Life designed this site especially for those planning seriously for their upcoming retirement years. After all, you've waited and worked a long time for retirement, it's important to ensure that these years will be pleasurable and financially secure.
Useful Web Sites
We think the following sites may be useful to you as you plan for your future while taking care of today.
Full retirement age is getting later and later... When will you be eligible for full retirement?
Where will your retirement income come from?
Most people rely on three primary sources for retirement income: Social Security, personal savings and investments, and employer-sponsored retirement plans. Certain questions you can ask yourself can help you determine if such sources are going to adequately provide you and your spouse with a comfortable retirement:
- How much retirement income do I need to have the quality of life I want?
- How much income will my pension provide? Social Security? Personal savings and investments?
- Will my spouse/beneficiary be financially protected if I die?
- What are my options?
- What are some things I can do to maximize my retirement income?
Investment Vehicle Options
Your Rollover Dollars...
As the time comes closer for you to decide what to do with the money in your retirement plan, you may be faced with important decisions that may require thoughtful and well-executed strategies. Click here for more information on NYLIM's Retirement Consulting Group.
Need help with your 401(k)?
About 5.5 million children in America are being raised by grandparents. This site can offer help.
Do you have questions?
At no charge to you, a New York Life agent — professionally trained and experienced — can help you analyze your needs and recommend appropriate solutions through insurance and financial products and concepts. Click here to request a no obligation review with a New York Life agent.
This material is being provided for informational purposes only. Neither New York Life nor its agents provide legal, tax or accounting advice. Please contact your own advisors for legal, tax and accounting advice.
Rating: 4.7/5 (3 votes cast)
|A Resource Center for Retirement Planning|