CPA Bob Berry Educates Retirees on Getting the Most Out of Golden Years
The average American spends the first third of their life going to school or being trained for a specific field of work. The second third is spent on children, houses and things that make people happy. During the last third, spending their hard earned retirement dollars; however, it is difficult to predict who stays healthy from age 65 to 70.
"At this point in life one might ask, 'Why save the biggest retirement payouts for the sickest years? Why not just get a good long-term care policy that takes care of health issues?'" said CPA
To help people get the most out of retirement, Berry lists the following three tips:
No. 2: Start small with withdrawals. This will help one get a feel for how it affects their investments. "No matter when you start retirement, sell some market investments and put the proceeds in cash," added Berry. "This will segregate what you will spend this year."
No. 3: Use retirement funds for fun and plan year one. Berry recommends using retirement funds for travel, family gatherings, special times with one's spouse, etc. "It is important to be active in retirement because you don't know what life will be like after 75," concluded Berry. "In all cases, I ask my clients to plan year one of their retirement. Make that first year a memory for all the ones you love."
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