Working Americans at or approaching retirement age today face many unprecedented challenges unique to their generation. That’s why it’s important to have a retirement plan that addresses these challenges and uncertainties head-on. One of the keys to doing just that is being aware of the retirement planning milestones that occur from age 50 onward. Several of these milestones present you with options that could significantly impact whether you have enough income to help achieve your retirement goals.
Of course, sound retirement planning is more than just a matter of paying attention to these age milestones. But being aware of them and making the right decisions in coordination with your financial advisor when each one comes along can help improve your odds of success! With that in mind, let’s go through each milestone one at a time and discuss its significance along with some of the things you may want to consider when deciding whether to take action.