Once you’re over 70, the time to save for retirement is over. At this point, you’ll have to live on the resources you have, unless you plan to take on extra work while you’re retired.
Retire at any age: get the best retirement advice for every stage of life
Discover: 7 Surprisingly Simple Ways to Reach Your Retirement Goals
In order to stretch your nest egg as much as possible, it pays to be mindful of the financial choices you make while in your 60s and beyond. Understanding how Social Security works, how your lifestyle and expenses might change after you retire, and the potential landmines that might lurk in your financial life are important steps to take as you move towards retirement. retirement.
To help you stay on the path to financial success, here’s a list of resources providing some of the most important milestones you can take at 70 and beyond.
living in retirement
Your life in retirement can be very different from what it was during your professional career. While many assume expenses go down in retirement, that’s not always the case, and it’s something you should watch out for. Many factors can affect the quality of your retirement life, from unnecessary fees and taxes you may pay to the state where you choose to live. Check out these resources for tips on living your best retirement life.
The last age at which you can claim social security is 70; once you pass this age, you can no longer determine when is the best time to file a claim for benefits. But there are still plenty of things you can do to maximize your Social Security check. Here’s some of the most important information you’ll need to know about Social Security after you turn 70, including tips for making those dollars go even further for you.
There’s no denying that, for many Americans, retirement can be a struggle. But regardless of your financial situation, it’s always better to know where you stand than to be surprised one day when your money runs out. Here are some resources outlining the things you should be aware of in retirement, along with suggestions on how to avoid wasting the money you’ve worked so hard to protect so far.
More from GOBankingRates
This article originally appeared on GOBankingRates.com: Your Complete Guide to Retirement Planning in the 70s and Beyond
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.