A Retirees Guide For National Financial Security Month
If you're retired, it's easy to put your finances on autopilot. But checking in periodically can help maintain financial stability throughout retirement.
Here are some suggestions:
First, choose an appropriate withdrawal rate for your retirement accounts. If you take out too much income early in retirement, you risk running short later.
Next, be realistic when estimating future health care costs. Even with Medicare, your unreimbursed expenses for medical costs and long-term care needs could be tens of thousands of dollars.
Also, see if you can delay taking Social Security until past age 62. The longer you wait, the more your monthly check could be.
Here’s another tip: Consider if you're investing so conservatively that your portfolio can’t keep up with inflation.
Finally, if you want to help your adult children and grandchildren financially, make sure you are not giving more than you can comfortably afford.
Retirement can be a wonderful time, especially if you take steps to maintain your financial stability.
This content was provided by Edward Jones for use by This article was written by Edward Jones for use by your local Edward Jones Financial Advisor, Alan Bell, AAMS™, 222 Great Road (Donelan's Plaza), Suite 8, Littleton, MA 01460, (978) 486-1059, alan.bell@edwardjones.com.
Edward Jones, its employees and financial advisors cannot provide tax or legal advice. You should consult your attorney or qualified tax advisor regarding your situation.
Edward Jones, Member SIPC
Here are some suggestions:
First, choose an appropriate withdrawal rate for your retirement accounts. If you take out too much income early in retirement, you risk running short later.
Next, be realistic when estimating future health care costs. Even with Medicare, your unreimbursed expenses for medical costs and long-term care needs could be tens of thousands of dollars.
Also, see if you can delay taking Social Security until past age 62. The longer you wait, the more your monthly check could be.
Here’s another tip: Consider if you're investing so conservatively that your portfolio can’t keep up with inflation.
Finally, if you want to help your adult children and grandchildren financially, make sure you are not giving more than you can comfortably afford.
Retirement can be a wonderful time, especially if you take steps to maintain your financial stability.
This content was provided by Edward Jones for use by This article was written by Edward Jones for use by your local Edward Jones Financial Advisor, Alan Bell, AAMS™, 222 Great Road (Donelan's Plaza), Suite 8, Littleton, MA 01460, (978) 486-1059, alan.bell@edwardjones.com.
Edward Jones, its employees and financial advisors cannot provide tax or legal advice. You should consult your attorney or qualified tax advisor regarding your situation.
Edward Jones, Member SIPC