Retirement Facts You Need To Know

Retirement facts are important to look into as you consider your future.We’re all unique and while some of us look forward to retirement there are those who are appalled at the idea of retiring because their work gives them a sense of purpose and retiring would only cut that short.

Retiring can be like venturing into the unknown. You likely have expectations and fears that you’re just not sure if they will come true or not. The good news is that there are retirement facts that have been true for a lot of people who have already retired and they will help you to visualize your life during retirement and get rid of any fears that you may have.

Key Retirement Facts

• The normal retirement age is between the ages of 62 and 67. If you retire during these years it means that you will be able to receive your full social security benefits.
• The average social security benefits that one receives in a year in the US is around 11,000 US Dollars.
• The average retirement income in the USis roughly around 29,000 US Dollars. The figures go higher depending on your education background.
• Living on social security alone will most likely not be enough for you to live a comfortable life and there won’t be much for leisure activities during your retirement years.
• Most retirees would like to have an average of $35,000 a year.
• A good goal would be to accumulate $700,000 in savings before retirement.

One reallyimportant retirement fact is that most retirees cannot save the $700,000 mentioned above, but not all hope is lost.There are other options like receiving income from your investments or another good alternative is to work a part time job.Statistics show that people in their retirement years take on part time work to stay connected with the community.It’s also a good way to get involved in a line of work that always interested you.Try looking for work that is more of a hobby rather than a chore, and something that keeps you active and social.
Some other interesting facts about retirement today are that more people are retiring younger, healthier, and in better shape. A lot has opened up in terms ofactivities and opportunities that provide all kinds of new and exciting options for retirees that previous generations didn’t have access to. Also, because people are living longer, it’s a good idea to have a solid long-term care plan to be prepared in case you become ill.
Another one of the facts that often shocks people after the reality of retirement has settled in is that more money doesn’t always mean more happiness. Take some time to find out what is important to you and what brings you most happiness so you can concentrate on those things.

You’ll also find that health and relationships become a lot more important in the days after a 9 to 5 job.

The Most Important Retirement Facts

The most important fact of retirement is that you no longer have to put things off until the future. The world is there for you to explore, and now that you’re free of your old commitments, why not take up that long lost instrument or hobby that you enjoyed so many years ago, visit a place you’ve always wanted, or move somewhere that’s more agreeable with your personality.

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