{"id":10332,"date":"2022-09-29T15:52:58","date_gmt":"2022-09-29T15:52:58","guid":{"rendered":"https:\/\/loans.tiida-nissan.ru\/?p=10332"},"modified":"2022-12-08T18:41:53","modified_gmt":"2022-12-08T18:41:53","slug":"income-management-during-retirement","status":"publish","type":"post","link":"https:\/\/loans.tiida-nissan.ru\/income-management-during-retirement.html","title":{"rendered":"Income management during retirement"},"content":{"rendered":"
\"Income<\/div>\n

Managing your income is always important, but it becomes even more important in retirement when your income comes from your savings, not wages and income. Because your source of income – which you saved so carefully while you were working – is limited in retirement, you need to make sure it will last the rest of your life. This means determining your income needs in the years leading up to retirement and, once you retire, managing your retirement assets efficiently. In this article, we'll look at some points to consider when doing these things.<\/p>\n

Planning in pre-retirement years<\/h2>\n

As the time for retirement approaches, there is always the possibility that the amount you were sufficient to fund your retirement year will not be enough. Reasons can include cost-of-living increases and unexpectedly low investment returns. To improve your chance of a financially secure retirement, periodically reassess your retirement income and sources over the last 10 years before your expected retirement date.<\/p>\n

"We believe it's extremely valuable to reassess your retirement income needs annually in the 10 years leading up to retirement," says Patrick A. Strubbe, founder and owner of Preservation Specialists, LLC, in Columbia, South Carolina. and author of Save Your Retirement! "This is due to a number of factors. First, your financial situation and nest egg are constantly changing. Second, your dreams and desires may change or fluctuate (you may have decided that you don't want to wait 10 years to retire!). Finally, it's good to make adjustments based on what's happening around you – taking into account inflation, interest rates and the general economic environment, among other factors. "<\/p>\n

The performance of the stock market in the decade between 1999 and 2009 is a good example of how potential retirees have had to reevaluate their retirement plans. For many, the market boom of the early 1990s raised hopes of a financially secure retirement. However, the subsequent market decline led to a significant reduction in retirement savings, which caused many individuals to retire early to postpone their originally anticipated retirement.<\/p>\n

What you can do if you do not have enough<\/h2>\n

If your reevaluation of your retirement portfolio and your current expenses show a shortfall in your savings, you may need to work beyond your expected retirement date. (For more information on assessing how much you need for retirement and how much you have, see Saving for retirement: the quest for success .) Should you decide to continue working or find a job after filing? For Social Security benefits, be aware of how your income might affect the amount you receive if you are less than full retirement age for your birth date, as determined by the Social Security Administration.<\/p>\n

Even if you find that you can't retire as soon as you planned and need to keep working, you can try to reduce your extended pre-retirement time by re-strategizing. Basically, you need to increase the amount you save so that you shorten the time to reach your goal. Here are some ways to boost your savings:<\/p>\n