Tags: Retire | 2015 | Brandon | investment

US News: Investment Suggestions for 2015 Retirees

By    |   Monday, 08 December 2014 02:52 PM

If you're planning on retiring next year, you're probably beginning to feel a good deal of excitement about the transition.

Emily Brandon, senior retirement editor at U.S. News & World Report, offers several tips for dealing with the process.
  • Decide when to begin taking Social Security benefits. In general, the longer you wait, the greater your payouts are.
  • Make sure to sign up for Medicare as soon as you're eligible. "You should start submitting the paperwork for Medicare up to three months before age 65," Christopher Rhim, a certified financial planner for Green View Advisors in Norwich, Vt., tells Brandon. "There are some financial penalties if you sign up later."
  • Consider rolling over your 401(k) into your IRA. Doing so may save you on fees and give you more investment choices.
  • Make a long-term investment plan.
  • Pay attention to required minimum distributions for IRAs after age 70 1/2.
  • Form a plan to pay for emergencies.
Meanwhile, retirement planner Henry Hebeler, a former vice president of strategic and operational planning at Boeing, offers several elements of a conservative retirement strategy in an article for MarketWatch.
  • "Use a planning program that lets you choose a stock allocation in which you can accommodate the swings in security values and inflation," he writes.
  • Select a retirement budget level that will support you well beyond your 50 percent life-expectancy age.
  • Adjust your retirement plan every year. If your plan includes a budget increase much higher than inflation, consider changing the budget to an average of what you planned for the new year and your budget from the prior year.

© 2019 Newsmax Finance. All rights reserved.

   
1Like our page
2Share
Finance
If you're planning on retiring next year, you're probably beginning to feel a good deal of excitement about the transition.
Retire, 2015, Brandon, investment
266
2014-52-08
Monday, 08 December 2014 02:52 PM
Newsmax Media, Inc.
 

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
America's News Page
© Newsmax Media, Inc.
All Rights Reserved