Spending In Retirement
You did everything right and headed into retirement with a decent nest egg. But still you wake up at 3 a.m. Your morning latte jumped a dime yesterday. Gas rose 4 cents. And why can’t you make a dent in your electrical bill?
HOW MUCH RETIREMENT INCOME DO YOU NEED?
Here are five simple steps to get your retirement planning off the ground.
WHAT TO DO WITH YOUR RETIREMENT PLAN
What will you do with the money in your retirement plan?
KNOW WHERE YOUR MONEY IS GOING
Cutting back on nonessentials is one way to put money away for your retirement.
TAKING REQUIRED MINIMUM DISTRIBUTIONS.
Once you turn 70½ you’ll have to start taking required minimum distributions from all your IRAs and retirement plans—except Roth IRAs.
REMEMBER YOUR RETIREMENT MILESTONES
There are a number of key milestones to keep in mind throughout your retirement.
ASK YOUR ADVISOR
- How can I use my nest egg to create lifetime, guaranteed income?
- What if I only want to bridge a short-term income gap, for example between early retirement and Social Security?
- Is there a way I can lock in a guaranteed income stream and still access my money if I need it?
- What can I do if I want to leave money to my heirs?
- How can I get periodic “cost-of-living” increases in my monthly retirement income?
TALK TO AN EXPERT
An advisor can help you. Learn about the value of an advisor.
Guarantees and benefits are subject to the claims-paying ability of Symetra Life Insurance Company.