How Working an Extra Year Improves Your Retirement Finances

Delaying retirement for one year can boost your monthly income.

Working for an additional year can have a significant impact on your retirement finances. A single extra year of work can boost your Social Security payments, give you more time to accumulate retirement savings and shorten the period of retirement you need to pay for. Here's a look at how delaying retirement for one year can improve your retirement budget.

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Damian J. Sylvia

Retirement Income Solutions

220 Monmouth Road

Oakhurst, NJ 07755

 

Why Regular Retirement Saving Can Improve Your Health

More workers who make saving a habit report better health than those who do not. And it's not just about having a high income.

People who save money out of habit are more confident about retirement and better prepared financially, as you might expect. But there’s a sleeper benefit, new research shows. Consistent savers also are in better health—no small matter as longevity stretches out life spans and means you likely will live in retirement more years than you did in childhood.

Continue reading the source article at Time.com.

Damian J. Sylvia

Managing Partner

Retirement Income Solutions

220 Monmouth Road

Oakhurst, NJ 07755

2 ways to get guaranteed retirement income

Ask advisers this question and the answer may depend on how the adviser makes his living. If he or she sells annuities, you'll probably hear how wonderful annuities are and why you should have one. If, on the other hand, the adviser charges a fee to invest retirees' savings for retirement income, you'll likely get an earful about annuities' shortcomings and reasons why keeping your savings in stocks, bonds and other investments is the better way to go.

Continue reading source article on CNN.com.

Damian Sylvia

Managing Partner

Retirement Income Solutions