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Fee-only
Financial
Planning

The GOLD Company does not sell any products and is compensated ONLY from the company's clients. No commissions are taken on any products.

I sincerely enjoy meeting people and getting to know them. The Gold Company strives to return calls promptly and takes a genuine interest in your needs. I work hard to personalize a plan that best fits your needs, budget and future.

The Money Prof

Tuesday, October 1 2013

Is now the time to retire?

Talking about changing events. This is a big decision and should come with much thought and planning. Yes, it is about money (do we have enough), but also about making sure all the pros and cons have been taken into consideration. The financial planning community advocates working longer than shorter, if you think you will need funds up to life expectancy. Retiring early does come with financial opportunity costs, but sometimes it's not all about money.

One of the major reasons people retire earlier is being able to do the physical things that are fun: playing golf, paddleball, tennis and so on. At full social security retirement age today (66), most individuals begin to see a difference in physical performance and the time horizon is getting shorter. Retiring earlier allows more time to travel, visit family and friends, do more exercise and do other things that one didn't have time to do while working.

Transitioning into retirement is an effective option. Does your employer allow you to phase out of work? Perhaps, less working time for a fixed period of time. This way you can continue to have earning power and begin to plan for the extra time. If you really like your job and feel you may need the extra savings, phasing out can make a lot of sense. You can postpone receiving Social Security until you are 70 and receive about 1/3 greater social security income payments at retirement. If you have a spouse that is already receiving social security, you can apply and receive 1/2 of your spouse's (his/her social security will not be cut) beginning at age 66. Then when you reach 70 or anytime between 66-70, you can change your payments back at an increase of 8% per year.

Most retirees I have met, tell me to make sure you want to retire. After working for so many years, continuing to be productive can be important. Yes, it's all about having fun, living your dream and not waiting until it's too late.

The GOLD COMPANY will help you achieve financial well being.

Offering the following services:
  • Investment Portfolio Assessment

  • Portfolio Development

  • Securities Portfolio Management

  • Retirement Planning

  • Insurance/Risk Management Review

  • College Planning

  • Real Estate

  • Estate Planning

  • Business Analysis

OFFICES IN MAINE AND FLORIDA

145 Newbury St.
Portland ME 04101
207-650-7884
moneyprof.oob@gmail.com
6427 Tiara Drive
Boynton Beach, FL 33437
561 894-8436
moneyprof.oob@gmail.com