But when you’ll really be ready comes down to more than just a number. The right time for you can also be when you have a plan on what you want to do during retirement and have a financial strategy that will see you through this next phase of life.
Here are five signs that you’re ready to move onto your next act.
1 You have a plan for your post-retirement life.
Most people spend time daydreaming about when they will retire. But it is equally as important to envision what you will retire to. Stepping away from a full-time career likely gives you eight to 10 hours a day of new-found free time. How will you spend that time, so you remain active and engaged?
People are often so focused on financial issues that they overlook this vital planning that’s key to a successful retirement. To find fulfillment, consider activities such as volunteering for a cause that’s important to you, working part-time at a job you enjoy, spending more time with family and friends, picking up a new hobby, or taking a class.
Denne historien er fra November 2020-utgaven av Kiplinger's Personal Finance.
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Denne historien er fra November 2020-utgaven av Kiplinger's Personal Finance.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på
FREE HELP FOR COLLEGEBOUND STUDENTS
This program’s mentors assist applicants as they fill out the FAFSA, write essays and more.
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You typically need earned income to contribute to an individual retirement account, but a spousal IRA provides an important exception to this rule.
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ET'S say you've been regularly buying shares in a booming tech company over the past few years, but now you want to start taking some of those profits, perhaps to rebalance your portfolio.
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AS part of a lifes kills program for young, single mothers, I was asked to teach a class on how to get on top of your finances.
ANSWERS TO YOUR 529 PLAN QUESTIONS
Thanks to recent policy changes, families have more options for what to do with money sitting in these tax-advantaged accounts.
Rate-Cut Winners and Losers
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Covered-call ETFs are popular but come with plenty of caveats.
DIVIDEND STOCKS ARE READY TO REBOUND
Our favorite dividend payers are poised to benefit as falling interest rates lure investors back.
IS A 55+ COMMUNITY RIGHT FOR YOU?
These age-restricted developments appeal to older adults seeking abundant amenities and an active lifestyle.
AT LONG LAST, RATES ARE DROPPING
Consider these portfolio moves now that the Federal Reserve has cut its benchmark interest rate.
