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How to Prepare Yourself for Retirement

 


According to Retirement Planner issued by the US Social Security Administration The three major elements of your retirement portfolio are benefits from pensions, savings and investments, and Social Security benefits.

To help you plan for retirement, you may want to use Retirement Planner to explore a variety of retirement scenarios. You can use a range of assumptions about your future earnings or when you will stop working. The Retirement Planner tells you how to qualify for Social Security benefits. It also includes a Retirement Estimator and Benefit Calculators that help you calculate your own benefit estimates and tells you what affects your benefits.

How to Prepare Yourself for Retirement

Generally, you should apply for retirement benefits three months before you want your benefits to begin.

If you were born before 1938 and you meet all other requirements, you can receive benefits beginning with the first full month you are age 62. However, if you choose to begin receiving benefits before age 65, your benefits will be reduced to account for the longer period over which you'll be paid.

If you were born after 1937, you also can start your Social Security benefits as early as age 62, but your full retirement age is more than 65.




My most important advice: take all necessary decisions very early. Both the spiritual, as well as physical and financial flexibility will be less quickly and therefore any change is only harder later in the coming years. These include necessary operations that may have been postponed previously due to occupational stress again and again. The earlier surgery is, the less the risk, and - more importantly - the more symptom-free then the retirement will be.

Extremely important is the choice of place of residence or dwelling. One should look at whether the terms of the new life is still fit the needs and or requirements. The age in the proximity of the workplace is no longer important, but contacts to the leisure facilities and medical care as important as it. I prefer therefore the age cities (especially small university towns) before, in which one easily gets fulfilled these important constraints, but this will be different each time. However, the sooner you move, the sooner you will be able to close even more satisfying new contacts, so this decision is also a priority.

The same goes for apartment or house. Here, the new income level is important that in any case low, sometimes even be alarmingly low. So I would advise an early move. The space requirements without children will be much lower, and clearing out early never hurt anyone, on the contrary, it brings new freedoms. In any case, the new accommodation to be wheelchair accessible, a fact which is even today still remember at all, and offers downsizing but still has the room for the shelter of a grandchild or a caregiver or even a guest. Also, keep in mind that you may have to make it without a car. Visual impairment is more likely and the good connection to the public transport is so important. It also may be critical in regard of the proximity of the children or grandchildren. However in nowadays to be mobile in certain places of residence is no longer reliable. Care services availability is very crucial in this case, which is however available today almost everywhere in the United States.

Among the most urgent tasks is also a drastic simplification of finance. Properties that cannot be used anymore, sell, sift through and adapt to the new insurance requirements (this one will need independent professionals). Memberships of clubs should be reviewed critically, may also cancel subscriptions. Understand that not everyone is equally able to retire. In order to take any special rules to exercise one must be careful scrupulously to all deadlines and exceptions. Often the information and advice from the experts in various departments and agencies are dangerously misleading, with devastating consequences for those affected. It therefore makes sense to be a member of any club available, which represents in my opinion the best interests of those senior citizens who need help and are left alone by the state.

Clear out or sell everything that is no longer in use, what you don't really often take for a day or so and what has accumulated in a long life. With eBay you may have participated it's even fun for new installations of assets, more security and less attention to profit. You can make your retirement smart and managed with vision. It's all up to you!

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