This Is How You Know When to Retire

Описание: No matter what year you’re born in, you can retire when you have the resources to pay for everything you need. Those resources are typically Social Security income, a pension, and/or money you’ve saved over the years.

Retirement income is often a foundation of your plan, so Social Security is likely a critical piece of figuring out when you can retire. By providing a base of guaranteed lifetime income, it helps you meet basic needs.

Social Security probably doesn’t cover everything. You generally get additional money from your savings, whether that’s from IRAs, 401(k) and 403(b) plans, the TSP, or even taxable brokerage accounts.

The question becomes: How much do I need? There are several ways to figure that out, and this video describes 5 of them:    • Calculate Your Retirement Numbers (5 Diffe...  

Your age is important in several ways. You’ll be able to retire with certain benefits at certain ages, and you might unlock more tax opportunities as you age. Make sure you know what happens at 50, 55, 59.5, 62, 65, 70, and every other year.

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CHAPTERS:
00:00 What Matters Most
01:03 When Can I Retire With Social Security?
03:41 Example
05:44 Strategy
06:57 How Much Money Do I Need?
11:20 Important Ages for Retirement Dates
13:59 Longevity

IMPORTANT:
It's impossible to cover everything you need to know in a video like this. The only thing that's certain is that you need more information than this. Always consult with a CPA before making decisions or filing a tax return. This is general information and entertainment, and is not created with any knowledge of your circumstances. As a result, you need to speak with your own tax, legal, and financial professional who is familiar with your details. This video is not a substitute for individualized, personal advice. Please verify with your plan administrator when employer plans are involved. This information may have errors or omissions, may be outdated, or may not be applicable to your situation. Investments are not bank guaranteed and may lose money. Opinions expressed are as of the date of the recording and are subject to change. “Likes” should not be considered a positive reflection of the investment advisory services offered by Approach Financial, Inc. The Comments section contains opinions that are not the opinions of Approach Financial, Inc., and you should view all comments with skepticism. Approach Financial, Inc. is registered as an investment adviser in the state of Colorado and is licensed to do business in any state where registered or otherwise exempt from registration.