When the kids are out of the house and retirement is either on the horizon or has arrived, many people think about downsizing. Whether or not that’s true for you, it’s important to recognize that when you retire your accumulated wealth is probably at its peak. Retirement these days can last decades, and age brings on many potential threats to your financial health. There are several steps you can take to ensure your money lasts as long as you do.
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by AARP
The AARP Retirement Calculator can provide you with a personalized snapshot of what your financial future might look like. Simply answer a few questions about your household status, salary and retirement savings, such as an IRA or 401(k). You can include information about supplemental retirement income (such as a pension or Social Security), consider how long you intend to work and think about your expected lifestyle as a retiree. The tool will help you determine the amount of money you’ll need to retire when – and how – you want.
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BY DANIEL KURT Updated Oct 13, 2018
Americans are living longer than ever before, resulting in lengthy retirements. But if you assume most people are saving more in order to prepare for their long-term needs, you’d be mistaken.
Here are some of the more startling truths about retirement in the United States.
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