3 Signs That Your Retirement Plan Needs Refresh
If you want to enjoy your senior year to the fullest, taking the time to plan for retirement is a smart bet. But if these things apply to you, it may be time to reshape your plan.
You assume you only need 15 years of income - or lessAmericans live longer these days. If you retire in the late mid-60s, you have a good chance your savings will last 20 years or more. And so if you are planning a low year income, you can sell yourself less.
Of course, there is no way to know how long you will live. But you may want to err on the side of staying positive and increasing your savings rate to make sure you have enough nest eggs to stay healthy. Contributing an additional $ 100 a month or more to an IRA or 401 (k) plan can go a long way.
You think you will only get fined on Social Security...