Start planning ahead now
. Anyone who waits until their full retirement age at 66 or 67 will get the full amount each month.
"We see a lot of retirees transitioning from full-time to part-time, and then part-time to fully retired," she says. "Think about that bridge window of maybe five to seven years where maybe you don't want to work five days a week, eight to 10 hours a day, but would work four or five hours on something you're passionate about."
It not only keeps you active and engaged while going into retirement, but the extra income could supplement your retirement income, too. "Dial down your spending," Horgan says. This suggestion works in two ways: helping you save for the future now, and becoming happier living on less once you do retire.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
The inside story on billionaire Seth Klarman's devoted following - Business Insider'Oracle of Boston' Seth Klarman has a rabid following that's stuck with him through thick and thin. Here's why fans of the publicity-shy billionaire investor copy his every move.
Read more »
Experts say several retailers to consider bankruptcy amid coronavirus - Business InsiderJCPenney is reportedly eyeing bankruptcy and experts say other department stores and mall brands may soon follow as coronavirus decimates the retail industry
Read more »
Chase Q1 earnings reflect crisis preparation - Business Insider - Business InsiderChase's Q1 income was largely affected by an increase in credit costs as it builds up its reserve in preparation for the effects of the coronavirus
Read more »
10 things in tech you need to know today - Business InsiderApple released its iPhone SE 2, Eric Schmidt said we should be 'grateful' for Amazon, and the Pentagon watchdog cleared Microsoft's JEDI contract.
Read more »
10 things in tech you need to know today - Business InsiderSundar Pichai says tech companies 'shouldn't get carried away' fighting coronavirus, and Amazon shut down all its warehouses in France.
Read more »
Here's why taking money from retirement accounts to pay bills is dumbBills are piling up for many people during the coronavirus outbreak, but tapping retirement savings to pay them is a bad idea. Certified financial planner lizweston explains:
Read more »