2. 50% of workers over age 55 have less than $50,000
in savings.
This leaves many people with seemingly few options to get
them through their twilight years.
TODAYS STATS
< $50,000 =
3. My advice is that everyone is different, and no broad
plan will work the same for everyone.
Next find a retirement advisor and set up a plan
I am personally available for those in the Texas, Oklahoma, and
Arkansas areas
ADVICE
4. Waiting to receive benefits helps you financially, that
is if you can afford it
Take someone who retires at age 66
This person could get, say, $1400/month
That’s $16,800/year
That’s an average payout amount for Social Security
SCENARIO 1
Age: 66 $1,400*12 = $16,800
5. If this person instead claimed at age 62, the monthly
payments would be $1050/month
That’s $12,600/year
SCENARIO 2
Age: 62 $1,050*12 = $12,600
6. Now, the same person waiting until 70 results in
$1848/month
That’s $22,176/year
SCENARIO 3
Age: 70 $1,848*12 = $22,176
7. The trouble with working until 70 is that it is really difficult
Besides the potential injury or sickness that could make it
impossible, I hear from many people who are simply forced
from their jobs before they want to retire
While many government organizations say that Americans are
expected to retire at 65, there is evidence showing that the
median retirement age is actually 62.
RISKS
8. Trying to postpone Social Security
Paying off debts
Cutting living costs
OTHER TACTICS
9. Working late in life isn’t all bad
Many find a real sense of purpose
Understanding the economics and implications of
retirement planning are key
Finding a trusted advisor to guide you through the
process and answer all your questions
TAKE-AWAYS