About Today: Financial Moves You Should Make in Your 50s

If you can't see this email, click here

Today Money issues are important at every stage of your life, but they're particularly critical in your mid-50s and beyond. As you approach retirement, you're trying to determine how much longer you can work and how much more you need to save to hit your target. And once you've retired and have to rely on social security and distributions from your retirement plans, keeping on a budget is even more important. Fortunately, our Money Over 55 expert is here to help. From tax planning to Social Security to retirement budgeting, Certified Financial Planner Dana Anspach can guide you on every important money decision you'll need to make later in life. What to Do When Retirement is Looming Most people have a specific retirement age in mind, but the truth is that once you hit your mid-50s, retirement could be right around the corner. Maybe you'll take a look at your accounts and realize that you've hit your savings target ahead of schedule. Plus, you never know when job loss or health issues could force you into retirement sooner than you expected. The point is, a planned retirement age of 65 could quickly turn into 61, so once you get within 5 years of likely retirement, it's time to start doing some serious planning. What to Do When Faced With Sudden Retirement 3 Things to Consider Before You Retire at 55 Calculating How Much You Need to Retire Search Related Topics:  how to retire  retirement planning  asset allocation Making the Big Decisions Whether you're approaching retirement or already there, you've got some big decisions to make. The biggest retirement decisions have to do with timing -- when to take social security, for instance, and when to actually retire. And while you're still in your saving phase, you'll need to decide whether to rollover your 401(k) into an IRA -- and how to invest those funds if you do. 5 Questions to Ask Before You Buy an Annuity When You Should Take Social Security 5 Key Things to Know About Social Security Search Related Topics:  retirement decisions  retirement investments  retirement age Don't Let Taxes Eat Your Retirement The last thing you want is for taxes to eat up all of your hard-earned retirement savings. Fortunately there are a number of ways to pay less taxes in retirement, with tax-optimized strategies for taking money from Social Security and your retirement accounts. When Tax-Deferred Accounts Can Hurt You Will You Pay Taxes on Your Social Security Benefits? Everything You Need to Know About Taxes in Retirement Search Related Topics:  taxes in retirement  tax planning  tax deductions Insurance for Older Americans Your financial concerns and needs change as you get older, and insurance is no exception. Life insurance, for instance, might get a little less important, while you might want to give some serious thought to long-term care insurance. Here are a few insurance considerations that older American should keep in mind. I'm Retired. Do I Still Need Life Insurance? The Pros and Cons of Long-Term Care Insurance When (and How) to Apply for Medicare Related Searches Financial Annuity Financial Plans Retirement Plans 401 K Retirement Retirement Accounts Featured Articles From 55 to 75, Your Retirement Plan Timeline 10 Things Your Financial Advisor Might Not Be Telling You Longevity Insurance and How to Use It 5 Money Moves You Should Make in January A Home is Not an Investment The Scoop on Managed Accounts   More from About.com Run Your First 5K Even couch potatoes can be ready for a 5K with just a couple months of training. Read more...> Help! I'm Too Busy Time and stress management tips to help you feel as though you have more time. Read more...>   Sign up for more free newsletters on your favorite topics You are receiving this newsletter because you subscribed to the About.com Today newsletter. If you wish to change your email address or unsubscribe, please click here. About.com respects your privacy: Our Privacy Policy Contact Information: 1500 Broadway, 6th Floor New York, NY, 10036 © 2013 About.com     Follow us on: Advertisement