As we dig around the Web to find helpful articles for our 55-plus customers and residents, we’ve stumbled across some good information when it comes to planning for retirement. …
The Motley Fool was a business founded on one simple purpose of, “Helping the world invest better.” A recent article of theirs provided three basic tidbits for Baby Boomers to consider so they can retire with a boom:
- Invest in a Roth IRA. Advantages to doing so are the tax-free withdrawals, those of which do not impact your reported gross income. Additionally, there is no mandated withdrawal from a Roth account, which means you can continue your contributions for as long as you’d like.
- Postpone Social Security collection. Collecting social security once you become eligible at age 62 significantly impacts the amount you receive. For each year you wait to collect after the designated retirement age, the benefit amounts rises by eight percent. [The graph provided by The Motley Fool demonstrates this theory well.]
- Reconsider your Cable Company investments. Should you have stock in any of the larger cable companies out there, just as newspapers are continuing to phase out, the same is expected for cable companies. It may be worth your while to do a little research to consider if investments within these entities would be best allocated elsewhere.
For all the details, including the helpful graph mentioned above, check out The Motley Fool to read this and other related articles.
Retirement—and semi-retirement for that matter—is a fun way of life … just ask the majority Blair Group’s Central Florida residents. Some of the hurdles once faced in planning for and making the move (semi-) retirement has proved to be worth it!