Winnow Wealth

For many Americans, the idea of "retirement" still includes some type of work. More and more Americans are extending their careers into their late-60s. Some are taking part-time jobs to supplement their retirement savings and Social Security, and some see it as a way to stay active and keep their minds sharp.
Earning income from a job in retirement certainly has its benefits, but there are also some drawbacks to be aware of.

(Source: Buffalo News)

FACT or FICTION: Are Their Retirement Funding Goals Ought to Hit by Age 50?

FACT: The approach of a milestone birthday is a reminder that, as life changes, so do your needs and circumstances.
The question is settled: You’re no longer a kid. And that’s a great thing because maturity is much better than it’s cracked up to be.
So, instead of dreading it, use this birthday to update your financial life by hitting the following targets.

(Source: MNS)

Reasons to pump the brakes on retirement. If you've been dreaming of retirement since you entered the workforce, you might have a certain idea of what it looks like when you're no longer working. But there's a chance you might not start retirement when you thought you would, perhaps due to circumstances beyond your control. According to a recent survey by the Nationwide Retirement Institute, approximately 40% of workers are planning to push retirement later in life due to inflation. While life doesn't always go according to plan, would-be retirees can make the best of a bad situation by delaying retirement. So, if you're on the fence, here's why you might want to consider retiring later than you originally thought.

(Source: Insurance WSMT)

FACT or FICTION: Full retirement age is either 66 or 67.

FICTION: For most Americans, the full retirement age is either 66 or 67, depending on when they were born. But you can claim your Social Security benefits four or five years early at 62. But just because you can file for benefits doesn’t mean you should.
Depending on your birthday, you’ll receive only 70%-75% of your full benefits if you claim at 62, which, as an example, would leave you with somewhere between $700-$750 per month out of what should have been a $1,000 check. Surviving spouses would have their benefits reduced by 30%-35%.

(Source: Yahoo Finance)