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Retirement Planning
Strategic planning for the transition to and through retirement, including income and Social Security optimization
educational
How do I know when I can afford to retire?
You can typically retire when your savings, Social Security, and other income sources can sustain your desired lifestyle for 30+ years. A common rule of thumb is the 4% rule—if 4% of your portfolio plus other income covers your expenses, you may be ready. However, retirement readiness depends on your specific expenses, healthcare needs, and goals.
strategy
When should I claim Social Security benefits?
For most people, delaying Social Security until age 70 provides the highest lifetime benefit—your benefit grows roughly 8% per year from full retirement age to 70. However, claiming earlier makes sense if you have health concerns, need the income, or have a lower-earning spouse who can claim spousal benefits while you delay.
educational
How much should I have saved for retirement by my age?
Common benchmarks suggest having 1x your salary saved by 30, 3x by 40, 6x by 50, 8x by 60, and 10x by 67. These are rough guidelines—your actual target depends on your desired retirement lifestyle, expected Social Security, pension income, and when you plan to retire.
educational
What is sequence of returns risk and why does it matter?
Sequence of returns risk is the danger that market downturns early in retirement can permanently damage your portfolio, even if long-term returns are average. When you're withdrawing money, a down market forces you to sell more shares to meet expenses—those shares aren't there to recover when markets rebound.
practical
What do I need to know about Medicare before retiring?
Medicare eligibility begins at 65, regardless of retirement age. You should enroll during your Initial Enrollment Period (3 months before to 3 months after turning 65) to avoid late penalties. Original Medicare (Parts A & B) covers hospital and medical services; Part D covers prescriptions. Many people add Medigap or Medicare Advantage for additional coverage.