Approaching Retirement: 60s and 70s
Every stage on your retirement journey is crucial. But some are more crucial than others. Today, preparing for retirement is about keeping what you've saved, maximizing your benefits and making plans. Decisions that once seemed a long way off are now right around the corner – or maybe they are ready to be made right now!
Here are some important considerations and 3 actions to add to your check list.
Gain Insight into the New World of Retirement
You are now in the critical approach toward retirement. But here's the tricky part – going too conservative can damage your retirement just as much as taking on too much risk. Managing risk, finding yield and income, not to mention growth, in the new world of retirement is more complex than ever before. Fortunately, there is plenty you can do to navigate the new world.
Designed specifically for 55-64 year olds, the BlackRock CoRI Retirement Indexes (CoRI Indexes) provide an estimate of what it will cost today for each dollar of annual income you want in retirement.
Longevity isn't just for kids. You may be near the end of your career, but you still need to make your savings last for twenty, thirty or even more years.
Your retirement comes with fine print – or at least it can feel that way. Don't get caught by surprise! Here's some costs to consider as you finalize retirement plans.
Who says change is bad? Today's retirement is best understood as your Encore! Find out more about how your contemporaries are reinventing retirement – just the way your generation reinvented everything else!
There's always more to learn and new insights to be found.
Define Your Retirement
Define Your Retirement™ Tool
Here's some sage advice from the world of carpentry: Measure Twice and Cut Once. You have probably spent a lot of time thinking about what retirement will be like. We think you should spend some more. Visualize your retirement and develop a concrete, actionable – and realistic – blueprint for your upcoming encore!
Knowledge is power – especially when it comes to turning a lifetime or earning and saving into a second lifetime of retirement spending. You're almost there (or maybe even already there!). Now is the time to nail down your retirement strategy.
The decisions you make today – when to collect, whose benefits to tap into, and more – can make thousands of dollars difference in your retirement. That's why it's critical you have a social security strategy.
You earned it. You saved it. Now it's yours to spend – for decades. Your withdrawal strategy is the most important decision you will ever have to make about your retirement savings.
How should you put your strategy into action? Understand the investment products you have at your disposal.
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This material is provided for educational purposes only and does not constitute investment advice. The information contained herein is based on current tax laws, which may change in the future. BlackRock cannot be held responsible for any direct or incidental loss resulting from applying any of the information provided herein or from any other source mentioned. The information provided in these materials does not constitute any legal, tax or accounting advice. Please consult with a qualified professional for this type of advice.