![]() ![]() ![]() "We've been very fortunate to be able to do that."Īs he shifted employers over the years, Mark never let up on his contributions-averaging around 12% of his gross salary annually. "We like to spend what we have, so it was better to take the savings out before we saw it, and we made it work from there," Cyndie said. That's when Mark, a trial attorney, kicked off his practice of making the highest contribution he could to his employer's 401(k) plan. We decided we needed to do something because we felt like we came to the game rather late." "I had an IRA that I had contributed to, but Mark had zero retirement savings. "When we got married, I was 32, and Mark was 33," Cyndie said. The keystone of the couple's financial plan was simple-setting aside as much of their income as possible in tax-deferred savings plans. Not surprisingly, however, the precise details of what they had envisioned their lifestyle to be evolved over time. Their success factor: For more than 3 decades, they conscientiously saved in employer-provided retirement accounts. The South Florida residents, age 68 and 67, respectively, have eased into phase one of retirement and, it's, well, working for them.įor years, the couple was confident that they could land in a place where they could retire how and when they wanted to. That's the rhythm of Mark and Cyndie's retirement lifestyle. Training dogs, tending to organic vegetables, and pedaling a mountain bike across rugged terrain in the wilderness-not a bad way to spend a week. Be sure to investigate Medicare options to get the health care you need at a cost that is reasonable for you. Cyndie and Mark wanted to be able to see their own doctors so buying a Medicare supplement plan was an easy choice that fit into their budget.Buying long-term care insurance has given Mark and Cyndie peace of mind about their future needs. Cyndie suffered a career-ending injury but was able to recover part of her income because of disability insurance. Use insurance to protect what you have.Cyndie and Mark used a well-considered strategy for Social Security benefits and put part of their savings into income-producing annuities to help cover expenses. As retirement nears, consider exploring sources of predictable income for essential expenses, including Social Security, pensions, or income-producing annuities.A flexible plan can help you take advantage of opportunities to boost your savings or otherwise improve your financial picture. It's OK if you get a late start to saving. ![]()
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