How does Social Security contribute to My Retirement Paycheck?
How does Home and Mortgage contribute to My Retirement Paycheck?
How does Insurance contribute to My Retirement Paycheck?
How do Retirement Plans contribute to My Retirement Paycheck?
How do Savings and Investments contribute to My Retirement Paycheck?
How does Debt contribute to My Retirement Paycheck?
How does Fraud contribute to My Retirement Paycheck?
How does Work contribute to My Retirement Paycheck?
A retirement paycheck is a practical way to think about how you will pay yourself during your retirement years.
All the questions you'll ask yourself in this site are connected to one larger question: "How much of a regular retirement paycheck can I expect to pay myself?" The answer to this question requires a holistic approach: it depends on decisions you will make about your work, your benefits, your home, and more.
We want you to have the information to make wise decisions in all these areas-decision that will make your resources go further so you can enjoy greater financial well-being in retirement. No matter how big or small your nest egg is, the choices you make now affect what you'll earn then.
Click on each icon to learn how these decision areas work together to optimize your retirement paycheck.
A house may be your biggest asset, but be careful about viewing the value of your house as if it were your retirement plan—you still have to live somewhere! Housing prices fluctuate and you need other forms of savings. It's best to plan that a home's equity is one of the last assets you use in your retirment.
Give additional consideration to how home and mortgage relate to:
Your retirement spending plan is not complete until you know how you will pay for medical and long-term care needs. Insurance companies also sell many forms of annuities. Putting at least part of your retirement savings into an immediate fixed annuity that will give you a monthly payment for the rest of your life creates a regular source of income.
Give additional consideration to how insurance relates to:
Don't "cash out" your retirement 401(k) savings before age 59½. This will always cost you money, and there are better ways to pay yourself through your retirement years, including using a rollover or keeping money in your company plan.
Give additional consideration to how retirement plans relate to:
You do not know whether your retirement will last less than 10 years or more than 40 years. To be prepared for reaching advanced age, continue saving and making wise investments even during your retirement. At retirement, most retirees still need to invest in diversified assets that may need to last decades or help weather investment market turmoil.
Give additional consideration to how savings & investments relate to:
To maintain a predictable cash flow in your retirement years, make every effort to pay off you consumer and credit card debt before you retire, and don't borrow money during retirement unless you know precisely how you'll pay it back. Consider the 10 years before retirement as your "debt-reduction" decade.
Give additional consideration to how debt relates to:
You've worked hard building up your retirement assets. Now you need to protect them. Older Americans-even those who are experienced with investing and are financially literate-are highly targeted by scammers, misleading advertising, and fraud, so be expecially on guard. Make no money decisions quickly, and never without getting a second or third opinion from people you trust. If it sounds too good to be true, it almost always is.
Give additional consideration to how fraud relates to:
If you are healthy, aim to work at least until your full retirement age. It produces many benefits, including prolonging any health care coverage you have, building your retirement assets, and increasing your ability to reduce debt.
Give additional consideration to how work relates to: