As an employee, there’s a good chance you’ve already started thinking about retirement.
(If you have, maybe you’ve already explored the many benefits of the Fixed Income Fund, and how it can help you generate a stable, consistent income along with peace of mind during your retirement.)
Maybe you started thinking about retirement during your first day on the job. Maybe it was after your first year. Or maybe, you’ve been having so much fun that you forgot that retirement was right around the corner.
Either way, retirement is something that should not be taken lightly. There are many things to consider when it comes to retiring, from who will handle your health insurance to how to manage your savings account to how in the world you are going to occupy all of your newfound free time.
All of those things are well and good, and hopefully you have already begun making arrangements for your last day of work.
But how do you know when that will be?
Many people think that they will have their retirement set up for them, and that at age 65 they can walk right out the door and feel freedom. But that is simply not the case.
When you are actually able to retire depends solely on you. For some, it might be before age 65. For others, it might be well into their 70’s.
So, when should you retire? Here are a few things to consider.
When You Can Afford It
Retirement is expensive. It’s not that it actually costs more to live in retirement. It’s not like milk prices suddenly skyrocket when you become a senior citizen. In fact, you may even find that you get more discounts as you get older (what a perk!).
Instead, it’s the fact that you no longer have a steady income in the form of a paycheck. Sometimes, we can take those bi-weekly direct deposits for granted, and we don’t stop to think about what life will be like when they stop rolling in.
So, the first thing you need to do before you retire is make sure you have enough in your savings to do so. While your longtime employer may offer a pension and you may now be old enough to collect Social Security, there’s a good chance that those programs still won’t be enough. The sooner you begin saving for retirement, the better off you will be.
When the time comes for you to start thinking about retirement, be sure you add up all of your known expenses — weekly, monthly, and yearly — and compare that with your known sources of revenue. You want to make sure your savings will last, and a good general rule of thumb is to estimate that you’ll need around 80 percent of what you were earning through income when you were working.
Unfortunately, there is no “magic savings” dollar amount that we can say you will absolutely need. Again, every person and every situation is different, so finding one of the many retirement savings calculators out there might be a bit of help in this situation.
However, when the time comes, don’t hesitate to seek professional assistance from an advisor or a money manager. They will be able to give you a more accurate estimation of your situation by evaluating your savings, and help you decide what the best course of action will be.
When You Know What You Want To Do
A retirement decision should not be made in haste. You need to fully consider the ramifications of your retirement, and fully weigh the pros and cons of such a decision. Do you have something to do? Or will you slowly descent into madness without a clue about what you should be doing.
For many, a job gives them a sense of purpose, and their coworkers give them a sense of belonging. If you have a companion you can spend time with, and you both understand the full ramifications of retiring, then perhaps you’re ready. But if the thought of being alone without a “purpose” is frightening to you, then maybe the timing is not right just yet.
Retirement should be a time where you enjoy yourself, create new memories, and find new hobbies. If you can’t do that, then maybe you should consider holding off for a few more years.
When You Can Live In Peace
Another part of the equation is not only knowing how much you have in savings, but how you will earn additional income through retirement which can help you live comfortably.
That means investing in things like annuities, mutual funds, or other securities. However, if you’re looking for a similar product but don’t want to deal with the numerous fees, headaches, and general uncertainty that they come with, then consider our innovative tactical retirement income strategy.
The Fixed Income Fund from Tactical Wealth provides stable monthly income which gets deposited directly into your bank account, back to our investors by purchasing and issuing mortgage and trust deed loans in stable markets across the country.
What’s more, because our fund doesn’t deal with the market index, your returns will grow with interest rates that are almost hard to believe: in many cases as high as twice those that are offered by fixed annuities.
When the time comes to retire, you need peace of mind with your money. You need the Fixed Income Fund. If you’re ready to experience peace of mind with a low risk, high return investment that you can count on, then you’re ready to retire!
