The 4% rule is a popular guideline, but it may not work for everyone. Consider your personal circumstances and consult a financial advisor for a tailored plan.
Health-related expenses can significantly impact retirement funds. Research and budget for potential medical costs in your retirement plan.
Downsizing your home can free up equity and reduce housing expenses, providing a financial cushion for your retirement years.
Social Security benefits can be optimized by delaying your claim. By waiting until full retirement age or even later, you can increase your monthly benefit amount.
Part-time employment during retirement can help supplement your income and extend the longevity of your retirement funds.
Long-term care insurance is an often-overlooked aspect of retirement planning. Explore your options early to protect your savings from exorbitant healthcare costs.
Diversify your investment portfolio to minimize risk. A mix of stocks, bonds, and other assets can provide stability and potential growth.