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Retirement planning, with actuarial data
Aug. 8th, 2019 10:17 amIf you're even close to my age you should be thinking about retirement. If you're younger, you should be saving for it.
Here - https://www.soa.org/globalassets/assets/files/resources/research-report/2019/viability-spend-safely.pdf - is a report from the Society of Actuaries, based on their research project looking at the success rates of over 200 variations on retirement plans. The PDF is a bit long, but quite readable. It's focused on people who have under $1 million in savings at retirement age and are largely going to depend on Social Security.
Major recommendations:
- Delay taking Social Security as late as possible. Age 70, currently
- Generate more income by using minimum distributions and investing those distributions in low-risk vehicles
Here - https://www.soa.org/globalassets/assets/files/resources/research-report/2019/viability-spend-safely.pdf - is a report from the Society of Actuaries, based on their research project looking at the success rates of over 200 variations on retirement plans. The PDF is a bit long, but quite readable. It's focused on people who have under $1 million in savings at retirement age and are largely going to depend on Social Security.
Major recommendations:
- Delay taking Social Security as late as possible. Age 70, currently
- Generate more income by using minimum distributions and investing those distributions in low-risk vehicles
