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Social Security is often dismissed or minimized by many when it comes to retirement planning. This is a mistake since Social Security forms a firm foundation that you can’t outlive. People don’t recognize the extra amount of retirement savings they need to save in addition to what they need to save to fill the gap between the income Social Security provides and the total amount needed to support your lifestyle throughout retirement years.
Therefore, here are more posts with information on Social Security considerations.
There is a simple method to determine when you may be able to retire through a Retirement Feasibility Timeline.
It is based on understanding what your lifestyle is today … not by old fashioned budgeting (drudgery), but by simply using your bank statements.
Once retired, there is a need for a periodic review because aging is not static and longevity slowly decreases, thus changing the dynamics of having your portfolio support your lifestyle.
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