627 Financial tips and laws for today and tomorrow

Here are the best tips to secure your financial goals for retirement in the last stretch.

Tip 1:

Check your available funds, anticipated medical costs and other expected expenses to decide the best time for you to retire.

Tip 2:

Make the most of your catch-up contributions while also adding up your other savings like 401(k)s, IRAs and spousal IRAs.

Tip 3:

Focus on saving up 70-90% of your pre-retirement income using strategies like setting up saving milestones.

Tip 4:

Keep a watch on your portfolio often to adjust it per your circumstances (e.g., if you changed a job) and savings goals.

Tip 5:

Find out your FRA and then delay your Social Security accordingly so that you can increase your monthly payout.

Tip 6:

Try out more systematic withdrawal plans and income-generating investments to prepare a stable income stream for retirement.

Tip 7:

Discuss with your financial advisor how you can best align your personal goals and wishes beyond financial security.