Reported about 1 year ago
Approaching retirement at 65, the focus shifts from accumulating wealth to managing and budgeting existing assets. For an individual with $1.2 million in an IRA and an expected $2,900 monthly Social Security benefit at 65, several retirement budget options are available. Factors to consider include income generation from savings, tax management, Roth IRA conversion, required minimum distributions, long-term healthcare needs, coping with inflation, and seeking guidance from a financial advisor for a personalized retirement plan.
Source: YAHOO