Understanding the rules behind Social Security benefits can seem difficult. The optimal time to collect varies by individual and depends on the benefits you and your spouse are entitled to, when you plan to stop working, and what other assets or retirement income streams you have.
Saving for retirement is only half the job. Once you’ve retired, you’ve got to figure out how to spend what you’ve saved. That’s a bigger challenge than many people imagine. We offer a list of the most commonly used strategies, their potential benefits and their potential downfalls.
You’ve saved long and hard for retirement. Now it’s time to tap those investments and, in essence, "pay yourself back" by establishing a drawdown plan that will provide the income you need to fund your retirement years.