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. #2: Stop procrastinating: When it comes to deciding on your retirement, remember time is money! If you own property, a living trust may help ensure that your assets are properly distributed when you Reference: Forbes (March 15, 2016) “7 Ways to Have the Most Successful Retirement” #AssetProtection #

For a retirement that can last decades, new retirees should have 40% to 60% of their assets in stocks Postpone Retirement. This may sound drastic, but delaying retirement can really improve retirement success. This provides more time to save, including making catch-up contributions to retirement accounts, plus You’ll also have fewer years during which you must rely on savings once you do retire.

A trustee is the person who will manage the assets that are in your trust. regarding assets in your trust. best interest of the trust beneficiaries. It is critical that a trustee follows the terms of the trust documents and the trust creator’s instructions #TrustAdministration #trustplanning #Trusts

After a lifetime of hard work, you want to enjoy a good retirement. article “Americans Need to Stop Winging It with Their Retirements.” Solid retirement planning is more sophisticated than just putting a few dollars into an individual retirement As you get close to retirement, it’s important to look at your risk tolerance when allocating your retirement A properly created trust will help to avoid probate for the assets in that trust.

Take a look at Kiplinger’s “12 Ways to Go Broke in Retirement” and learn how to avoid them. Multiple income streams are better than one, particularly in retirement. for Retirement Studies. You tap the wrong retirement accounts. That’s one reason why people flock to Florida and Arizona after they retire.

Will you need the money soon after you retire? With pre-tax retirement plans such as the traditional IRA or many of the employer-sponsored retirement Because of this, a Roth IRA can be both a retirement account and an emergency fund. Do you want to be able to contribute after you retire? Do you want to leave some of your retirement savings to your heirs?

Carrying Debt into Retirement. Pay off all debt before you retire. Retirees should remember that retirement can be 30+ years. The investing strategy that you created before retirement might need adjusting once you enter retirement Overspending in Early Years of Retirement.

Many folks have the same issue with scattered finances: IRA here, 401(k) there, trust account, savings The first step in de-cluttering your financial mess is determining what your targeted retirement number This requires you to calculate the following: Your Annual Budget Annual Income Planned Retirement Date After you find a reasonable dollar figure target for retirement, you still need to incorporate important which to focus: Estate Planning: No excuses, you need to have an estate plan in place with a living trust

When her parent dies or retires, the child may be switched to a higher benefit based on the parent’s Your attorney may advise you to create a Special Needs Trust, which will protect benefit eligibility. When you die, you leave your assets to the trust instead of giving them directly to your child. A child’s benefits pay for basic needs and a special needs trust could pay for extra things such as music Some parents do not set up a trust and leave the entire estate to their other children with the expectation

policies and retirement accounts. Estate planning ensures your children are cared for by those you love and trust. Set up trusts. Trusts are legal structures that allow you to transfer your assets to a trustee who manages them for You can name someone you trust to take care of your children in the event of your death.

When you retire, you’re eligible to get a Social Security benefit, which is a source of income based Social Security uses a formula to determine how much you’re eligible to receive when you reach your full retirement believe, but delaying your Social Security benefits as long as possible is the best thing for many retirees The Social Security Administration reports that nearly 75% of retirees who receive benefits take reduced With some smart planning about how you plan to live in retirement, you can be confident that you will

A reverse mortgage can provide cash or “longevity insurance” when other sources of retirement income stay in their homes and can provide a financial safety net for those worried about outliving their retirement Some folks don’t have enough savings to get through retirement, so they may use all of their wealth—including home equity—as a retirement income source. use reverse mortgages to create a cash buffer in the event a dip in the stock market depletes their retirement