Category: Retire
Can You Retire Earlier Than You Thought?
Your retirement portfolio may look pretty good right now. We’re in the midst of a bull market, and still enjoying the effects of the so-called Trump rally. You may be looking at those balances and thinking – maybe for the first time – “This might be an actual possibility, and sooner than I thought!” But there are many things to consider before you make the jump. For example, what if the market declines? Do you have the right insurance in place? What about taxes – will you retire into a higher bracket, or maybe a lower one? Here are a 4 important retirement planning considerations before you make that big decision. 1. Healthcare Healthcare is a huge concern for most retirees, and with the current uncertainty about the future of the ACA, it can make it hard to know what the best plan is. Some retirees incorrectly assume that at the age of 65, Medicare eligibility immediately eliminates your healthcare costs. According to an estimate by Fidelity Investments in August of 2016, the average couple retiring at age 65 will need $260,000 for retirement healthcare expenses during their retirement. Another report from the Kaiser Family Foundation noted that the number of firms with more than 200 employees offering retiree healthcare benefits has been declining as well. There are a number of ways that you can plan for healthcare costs, including Health Savings Accounts (HSA’s) and supplemental cov
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