The Best Age For Retirement Is What?

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Posted on: 15th Oct 2013

Everyone has different views and opinions on what they think the right age for retirement should be, it is really within the person what age it should be. Several factors you need to take under consideration before you determine the best age for retirement.

Frankly speaking, retirement is a financial issue; well, there are many other factors involved in the process of preparing for and thinking about retirement.

Health Is A Matter

The typical age for retirement is somewhere around the ages of 62 through 67. However, you need to consider your health into the equation as well. Many older folks tend to suffer from common ailment such as:

*Arthritis

*Impaired vision

*Heart disease

* Memory loss

These are just a few that's named. If you are planning to work as late as possible, then maintaining healthy life style is an important requirement to retirement planning. It's never to late to decide to take better care of yourself.

Taking good care of your health will ensure that you will be able to work longer, earn more, and put more away for your golden years.

You will also be able to collect more Social Security the longer you work. In addition, keep in mind that the longer you work, the longer your health insurance will stay in place.

Finances

Of course, finances are one of the biggest parts of the equation for retirement. You need to plan, plan, and then plan some more when figuring out your financial situation for retirement. If you have begun to save early, then your retirement age will come earlier. If you are a late saver, then it stands to reason that your retirement may be put off until a bit later.

1. Seek advice from a professional - If you have not already started, seek the advice of a financial planner. You may think you know how much you need to retire, but that figure may be way off from what you will really need to maintain your standard of living after retirement.

2. Take advantage of being over 50 � If you have any tax deferrable accounts, look into the possibility of contributing more dollars for fewer taxes. Speak to a professional about this option.

3. Get comfortable with being a senior citizen � There are financial benefits to being older, such as eligibility for tax grievances, senior discounts on dining, parks, and even travel.

Think Ahead

Think ahead about what retirement means to you. If you are perfectly fine with retiring at an average age and just kicking back and relaxing, then retiring at a later age might suit you just fine.

However, if you plan to be actively engaged in sports and physical activity, retiring at an earlier age may be a better fit.

Owner,

Marlin Carter

214-374-0441

http://due2profit.com

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