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Understanding how Social Security benefits work and implementing some strategies can really help you get the most out of your Social Security in retirement. Allison Alley, CFP®, AIF®, Pure financial advisor covers 5 ways to maximize your benefits: 1. Understand how your Social Security benefit is calculated. 2. Impact of starting your Social Security income […]
As you age, your portfolio grows, but your time to spend it shrinks. So from a financial perspective, what is the ideal retirement age? Plus, if you aren’t seeking FIRE (financial independence, retire early) but instead have achieved FAHR (financial abundance, happily retired), should you do Roth conversions to the top of the 37% tax bracket? Should you stop investing and start saving cash as retirement approaches? If you’re maxing out your retirement accounts, is it a good idea to now take advantage of a deferred comp plan? Is participating in an employee stock purchase plan (ESPP) putting too many eggs in one basket? And finally, how should you pay for long-term care insurance?
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When you think of retiring, what age pops into your head? 55? 65? 70? For many, visions of getting a gold watch and riding off into the sunset are no longer the reality of what retirement looks like. Not only is this vision of retirement a thing of the past, so is the target age […]
What is “full retirement age” for Social Security benefits and how is your benefit calculated? Robert Canavan, CFP® from Pure Financial explains. Transcript: Today we’re going to talk about Social Security and what is known as your full retirement age. This is the actual age when you’ll get your full retirement benefits from Social Security. […]
