Author name: charles


Can I Sue My Financial Advisor?

Can I sue my Financial Advisor or Broker? If you have suffered considerable investment losses, you may be wondering if it’s possible to sue your financial advisor or broker to recover damages.


What is the average retirement age?

Many people work their whole lives to be able to retire comfortably one day. However, the age at which people can retire is variable. Some people can retire early, even in their 40s. Others work until their 80s.

Is there a retirement age in the United States? The average age at which men can retire is 65, while women retire at 63.

Many people believe they will continue working for as long as possible, but others decide to retire sooner than they expected. It can be expensive to retire a few years sooner than you expected.

According to the U.S. Bureau of Labor Statistics, an average 65-year-old spends approximately $46,000 annually. If you spend at this rate and retire six years sooner than you expected, you could have around $276,000 in additional savings.

Factors To Determine Your Retirement Age

Your ideal retirement age can be determined by many factors. The most important factor is how much you have saved for retirement to cover your living expenses. The sooner you can retire, the more money you have.

Another thing to think about is your retirement lifestyle. You might be able retire earlier if you plan on living modestly and keeping your expenses low.

Another factor that can affect your retirement age is where you intend to live. You may not be eligible to retire earlier if you live in expensive cities like New York and San Francisco. You might have to choose between retiring earlier or where you want to live.

What are the eligibility requirements for Medicare and Social Security?

The minimum age for receiving Social Security retirement benefits currently is 62. You will receive more money each month if you wait to reach full retirement age, or even better, until your 70th birthday. If you claim Social Security benefits at age 62, your monthly benefit will decrease by 25-30% compared to waiting until full retirement. For every year that you delay receiving benefits, your benefits will rise by 5-8%.

Your exact retirement age will depend on the date you were born. Your full retirement age depends on when you were born. If you were born prior to 1960, you will be 66. You cannot get additional income by waiting to apply for Social Security benefits until you turn 70.

You can still start receiving Medicare until you turn 65. There are two main options for Medicare coverage: Original Medicare or Medicare Advantage. Original Medicare consists of three parts: Part A (Part B), Part D (Part D), which is Medicare’s prescription drug program.

Retirement investing

Retirement investing requires a long-term view — 40 to 50 years.

It is possible to reduce retirement investing to certain age benchmarks such as the ones below.

Investing in Retirement for Your 20s and 30s

It’s the stage in life when saving for retirement may seem less important because it’s so far off. This is the time when you have the greatest opportunity to make a difference in your retirement. You will likely have many decades of compounding during which your investments can grow.

Investing in Retirement for Your 30s and 40s

Many people assume more financial responsibility during this stage of life, such as raising a family or buying a house. This can make it difficult to save money for retirement. It is important to make retirement a priority and invest a portion of your pay each pay period in a retirement fund. At this stage, ten percent of your gross pay is the goal.

Investing in Retirement for Your 40s and 50s

These are the highest earning years for many people. This could allow you to save more for retirement than any other time in your life. If your children have graduated college and moved out of the home, you might find that your financial responsibilities are less. It might be a smart move to invest more of your retirement pay if possible.

Investing in Retirement for Your 50s and 60s

This stage is where you are starting to get closer to retirement. This stage is the best time to invest as much money for retirement as possible. To protect your investment earnings, you might consider moving your asset allocation from stocks to bonds or cash equivalents.

Continue reading:How do 401k catch-up contributions work

Get on the Right Track With Your Retirement Savings

Here are five ways to support your retirement savings.

1. Find out where your retirement savings stand

You can use the free Personal Capital retirement Planner to see where you are relative to your retirement goals. You can see your financial information from all accounts linked to the Personal Capital Dashboard and determine how well you are prepared for retirement. This will be based on your target retirement date.

You can also forecast your retirement spending. The meter for your Retirement spending ability compares your projected spending to your desired retirement spending goal. This will allow you to estimate the monthly spending that can be sustained.

2. Continue networking

It’s a smart career move to stay in touch with your professional network.

Begin to nurture a network that might be able to provide employment opportunities for you. Stay in touch with your network via LinkedIn and other social media. Keep your portfolio and resume current. There’s no way to know what new opportunities might present themselves, and there’s no way to be certain that your employer will continue you in the workforce until retirement.

3. Flexibility is key to keeping your pay flexible

Your pay should be flexible as you age. Although this may be difficult to accept, it is important to remember that you are saving for retirement as long as your work continues. You can save money by living on a small portion of your salary until you retire. This will allow you to prepare for your retirement job and give you more money to save.

4. Diversify your Savings

Diversifying your savings is important as you get closer to retirement, particularly if you are one of the fortunate people who can retire earlier than the average retiree. While we tend to focus on filling our 401k buckets, it’s important to also save for taxable and Roth accounts when possible. If you retire before the age of 59.5, having money in different accounts types (pre-taxed, taxable and post-tax) may be a benefit. If you are able to be strategic about which account types you withdraw in retirement, it will allow you flexibility and possibly tax savings.

5. Talk to a Financial Advisor

What should you discuss with your financial advisors about retirement? Our fiduciary advisors can provide you with a holistic view of your retirement plan. Both of you have access to the same planning tools such as the Retirement Plan. You can have an open conversation with your partner and receive the transparent, honest advice you need in order to reach your retirement goals.


What’s considered early retirement age?

Early retirement is generally considered to be any age above 65. This is when you are eligible for Medicare benefits.

Is it possible to retire early?

A fiduciary financial advisor is the best person to help you make a decision about when you want to retire. Social security retirement benefits can be started as soon as you turn 62. However, benefits will be reduced if you start receiving them earlier than 65.

What amount should I save for retirement?

Your retirement plan, investment strategy, risk tolerance and expected retirement spending all impact your savings level. Compare your savings level to the average balance of a 401k account by age.

What amount of money do I need to retire?

The amount of money you will need to retire depends on how much you expect to spend each year in retirement, and how long you will be retired. To help you understand how much money is needed, you can use a retirement calculator.

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