Is Retirement Possible Without $1 Million?

Retirement$1 Million Retirement

Of course entering retirement with a million dollars makes things easier, but you can absolutely live well without having met that magical goal. Preparing ahead of time and making small changes – or big ones – can pay off big in the long run.

5 Strategies

There are a few things you can try to help meet your goals like boosting your Social Security payments. Here are 5 strategies, from our friends at USNews.com that  you can employ to make your (less than $1K 401(k)) retirement a joy!

We would love to know if any of these suggestions have worked for you or if you think any of these strategies might help. We would also love to hear what else might have made your less than $1K savings work for you.

 

What? Retire Earlier?

You hear many conflicting ideas about when is the best time to retire: As soon as I’m able? On your 62nd birthday and get those early retirement benefits? At the full benefit time- 66-67 or should you just wait till age 70 or later? To whom should you listen?

A recent survey conducted by New York Life Insurance Company shows that retirees themselves wish that they had retired sooner…an average of 4 years sooner.  Why? They wanted the time to enjoy retirement life while their health was still good.

The survey showed that the people who responded in this way did have some moderate retirement savings. The problem is that many boomer who participated in the study, report having far less savings than that of the generation prior.

Have you made any plans for retirement? Do you have enough to retire a bit sooner? Let RetirementView Software help you see where you stand and what you can do to improve the outlook for your retirement.  Check us out at www.torrid-tech.com and let us help guide you to a more secure retirement.

You can read more of the details of the survey at http://tinyurl.com/lcsajos

Wealth Through Health

Rising healthcare costs are a real concern for most Americans. A recent Merrill-Lynch study finds that 81% of retirees say that good health is the #1 ingredient to a happy retirement.

Find the details of this study as reported by Daniel Solin at http://www.dailyfinance.com/2014/09/17/health-vs-wealth-retirement-planning/#!slide=2726183

RetirementView software can help you plan for any unusual medical costs or elder care you may need in your retirement years. Download a free demo copy at www.torrid-tech.com.

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