Boston Retirement Center Suggests: Keep It Simple
The Boston College Retirement Research Center recently indicated that thefourmost importantthingstodo to increaseyourretirement's financesare:
- Spend less (and Simultaneously Save More)
- Delayyour retirement date
- Delay collecting Social Securityuntil your "Full Retirement Age" and preferably, to Age 70
- Use you home's equity for income
The three strategies:
- Reduce your income need.
- Allowsyou to save more andgrow assets for a longer period, thereby, providing you with a larger "retirement nest egg."
- Allow you to "leverage your age" by receivingmuch higher Social Security Benefits, and a larger pension or "pay out annuity" as well.
- Allow you to generate income from an otherwise illiquid asset:Your Home.