By Robert Cochran
This is the third in a series of articles.
My original intent was to retire when I turned 70. However, as I noted in Part 2 of this series, the realization that “it’s time” bumped up my retirement to this fall, when I turn 67. Thus the mental switch was flipped, then the “Can I afford to retire?” review and decision was made. A large number of people find that their retirement plan (IRA, 401k, 403b, company pension, profit sharing, or other) account is the biggest part of their financial picture, often bigger than any Social Security benefits for which they qualify. My own picture is probably not that much different.
Social Security retirement benefits are much more modest than many people realize, according to the Center on Budget and Policy Priorities. Benefits represent Continue reading →