Reported 8 months ago
As individuals reach age 65 and start contemplating retirement, careful planning becomes essential. Considering factors like Social Security, Medicare, taxes, and retirement budget is crucial. With a $1.5 million IRA and $4,200 per month in Social Security, a married couple can have flexibility in retirement. However, strategizing individual circumstances plays a significant role in ensuring a comfortable retirement. Delaying retirement and seeking guidance from financial advisors can help optimize retirement benefits. Planning for taxes, managing required minimum distributions, and creating a sustainable budget by balancing assets and spending are key components for a successful retirement plan.
Source: YAHOO