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4 Things to Consider When Choosing a Retirement Date

Planning your retirement? Discover 4 key factors to consider when choosing your retirement date—from healthcare and income needs to lifestyle goals and Social Security timing.
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Starting in 2022, the various tables used to calculate required minimum distributions (RMDs) from retirement plans will be updated. To reflect longer life expectancies, these tables will be expanded to allow RMDs to be drawn out over a greater length of time.
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On your wedding day, you took your partner’s hand and promised to be by their side every day for the rest of your lives. And so far, that may be exactly what you’ve done. But now, with retirement looming, you’re readier to take that leap than your spouse. So, what are you supposed to do?
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When considering the unfortunate reality that about 50% of marriages end in divorce, many people who are at or nearing retirement find themselves in the position of figuring out the Social Security benefits they are entitled to as a
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After decades of paying payroll taxes, many people believe that their Social Security benefits are tax-exempt, but this simply isn't the case for a lot of retirees. In fact, the Social Security Administration estimates that 52% of beneficiaries paid income tax on their benefits in 2015 and 56% of all beneficiary families will owe income tax on their benefits from 2015—2050.
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Long-term care (LTC)–sometimes called extended care–describes the care an individual needs if they can no longer perform basic daily routines (eating, bathing, dressing, etc.) on their own due to preexisting conditions, disabilities, or frailty.

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