four phases of retirement

4
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Page 1: Four Phases of Retirement

 

Yyocorea styomen20fisudagrwre

Tim

Todameanexpematuless dreasocia

Sociany sole sort will can recencovespouhowdiffeEvencollehigh70 to

Years ago,ou mentiononcept etirement, vi

long and tretch of timour career c

mind. Most nvisioned h0-30 year timilled with auch as traveays of relaxrandchildren

was usually etirement.

es have certa

ay the concening. The ensive and thure years are

financially ams, retirees al security a

ial security, retirement psource of reof comfortaneed quite aprovide. Th

ntly stated tered by sociuses who

wever, the amerent dependn though inect Social Seher benefit oo start. Altho

 

 

 

 

when ned the

of isions of relaxing

me after came to

people having a me span activities eling to exo

xation and ren. The possi

the only

ainly change

ept of retiremcost of livhose who we finding tha

feasible. Inare finding nd a savings

which is typlan, was netirement forable retiremea bit more thhe Social Sthat 96% ofal security, are also emount you ding on whn most circecurity until offered to though social s

SCo

Michael L.

otic locationecreation anibility of lon

concerning

ed!

ment has takving has be

would like toat it is becomn order to rthat simply

s account is n

ypically a coever intender anybody. T

ent income, phan what soSecurity Adf American (including n

eligible for are eligibleen you starcumstances age 62, ther

hose who wasecurity shou

chwaromprehensive

. Schwartz, R

The F

ns, leisurelynd time withng-term careg issue in

ken on a newecome veryo enjoy their

ming less andrealize theirliving off ofnot enough.

omponent ofed to be theTo reach anypeople todaycial security

dministrationworkers are

non-workingpayments)

for can bert to collect.you cannot

re is an evenait until ageuld be a part

rtz Fine Wealth Ma

RFC®, CWS®,

Four Pha

y h e n

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f e y y y n e g ) e . t n e t

of youarticle,most oincome

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These retireesapproaa well-for maincludedeath, one of obstaclintentiothemsehaving anticip

nanciaanagement &

CFS

ases of Rur retiremen we want to

often not hee needs.

people haveof being ablputting togetthese savingeration many

e impact of i

w much youirement plan

hat requiredyou need to

hat financialay your retir

hat mortgageve outstandin

e total amoud saved for r

ur health airement.

are just a s need to

aching and pr-executed, loany people ed unexpecta divorce, aa number ofles that chanons. As a relves in the g saved less

ated and s

al Serv& Retiremen

Retirement planning,

point out thelp satisfy s

e saved theirle to enjoy ther a plan fgs, they nowy factors, inc

inflation.

u can affordn each year.

d minimum take from y

l benefits yrement.

es, large debng.

unt of wealtretirement.

and long-ter

few of the consider. Areparing for ong-term plis that theited situationan unfortunf unpredictabnged or alteresult, mantwilight of

s for their scrambling

vices t Planning

entfor purpose

hat social secsomeone’s r

r entire livesthe golden y

for living cow have to cluding:

d to take ou

distributionyour retireme

you may hav

bts and bills

th you have

rm care cos

complex isA good stra

retirement ian. Sadly, tir lifetime mns like an

nate disabilitble and unprered even thy people to

f their workretirement tto find a

es of this curity will retirement

s with the years, but mfortably take into

ut of your

ns, if any, ent plan.

ve if you

s you may

collected

sts during

ssues that ategy for is through the reality may have

untimely ty, or any reventable he best of oday find king years than they

way to

Page 2: Four Phases of Retirement

comto re

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mpensate or mealize the ret

se who are ement accoive the fullrns on theirrest rate enices will notn interest rngs can stiltime you neevides a few are continuiement. If yo

500 ($1,000 ular IRA or Ryou can als

n (compared 401(k) plan

le Roth IRAons are alwaover age 50

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ay, many pying theirement date

r you continuhelp your pways. Firstement meanther year king and e

ome and saement. Secomay not neyear for

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many Amken down int

1. P

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make up for tirement they

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ing or even ou are 50 or more than yRoth IRA. I

so add an exto your you

ns provide fAs can offer ays attractive, but there awho can pan area wh

re interestedretirement sa

to discuss

people are r actual e. Every ue to work lanning in , delaying

ns there is you are

arning an aving for ond, becauseeed to use y

financial ws your nest.

mericans, retto four phase

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Early retire

the cash they once desire

s and 60s wnot have t

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many of fast as they higher. Youropportunity your funds. for individustarting to saolder you c

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tirement todes:

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without largethe time toounding thetoday’s lowyour safer

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The nestage othis phstill haenthusifocus sports and tra

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Let’s taeach

Pre-re

tirement is twhen you

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ife after yous the time yoourself how

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phase that yment to look

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ake a brieh of these

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most experts ll earnings thigh percenthigher if yourn more. Ant, one of theng an activs in retiremyou have s

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Retireme

s the early nt. During people can energy and erefore can g physical and tennis) ring this pha

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ent.

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nt Phas

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retirement pting costs anHowever, soealth care. It t what you whow and wbegin to pla

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Page 3: Four Phases of Retirement

haveyourdue activ

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not unusualy stage to woraditional wowork on boa

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increase insions durinng this stag

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hough early mportant to tncial implicantial that duew of yourations do nor loved onesr assistance

Full R

s next stage our retireme

w, you havized your tr

fulfilled mls you had pr retirement.

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cash flow. Iwill be highially more

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think througations for m

uring this perr estate plaot interrupt . This is anoto clients.

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se many peoet regularly

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ood health, mlikely to decind more en

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unteer at not-

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ase

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Final R

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dless of youraching, here ed to consta

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basis to givemeeting the chroughout ea

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Retireme

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r age or whicare some i

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t your cashr each phaseand final pha

most expeower in the

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e yourself thcash flow nach phase of

may actually hase if your

mized.

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ent Pha

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Page 4: Four Phases of Retirement

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