Americans are retiring before they are prepared for it.
So says a story in Forbes, which cites a study that says American men are retiring at an average age of 64.
But another survey says that while 65 percent plan to work some in retirement, only 27 percent actually do. And only 44 percent have actually calculated how much they will need to live in retirement.
The story says that those who retire early are leaving thousands of dollars on the table.
Monthly Social Security benefits claimed at age 70 are 76 percent higher than those claimed at age 62.
The article suggests talking to a qualified financial advisor before deciding when to take retirement benefits.
If you have questions about retirement planning, feel free to call us for a consultation at (626) 696-3145.
