Monday, April 9, 2012

How Delaying Retirement Can Help You

Delaying retirement has been one of the most consistent pieces of financial advice for older Americans reeling from the recession. The major financial benefits of deferring retirement are the ability to continue earning money, adding to your retirement assets, deferring drawing down those assets, and delaying the date you begin to receive Social Security benefits.

Situations differ, of course, but here's a rough look at the impact of deferring retirement for five years, from age 65 to 70. Use this finding to see how your own situation would be affected if you were to delay your own retirement.

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