Retirement 'Danger Zone' -- How to Get Through It

Are you prepared to enter the danger zone?

That's the time right around retirement when you have accumulated savings and are on the verge of drawing them down. A wrong move or a significant bear market at that point can have an outsized effect on your future financial life.

The question is, what constitutes a wrong move?

Continue reading the source article at NBCnews.com.

Damian J. Sylvia

Managing Partner

Retirement Income Solutions

220 Monmouth Road

Oakhurst, NJ 07755

How Social Security Funding Affects Your Retirement

The first person to receive a monthly Social Security retirement benefit, Ida May Fuller of Ludlow, Vermont, earned quite a return on her tax dollars.

Fuller paid $24.75 in payroll taxes, which is used to fund Social Security, over three years while working as a legal secretary. She retired at age 65 in November 1939. On Jan. 31, 1940, she received her first Social Security check of $22.54. From then until 1970 when she died at age 100, Fuller collected a total of $22,888.92 in Social Security retirement benefits, according to the Social Security Administration (SSA).

Continue reading source article at NBCnews.com.

Damian Sylvia

Managing Partner

Retirement Income Solutions

'Boomerang Kids' Are Ruining Their Parents' Retirement

Having your adult children living in your basement is worse than you think. Boomerang kids can actually hurt your chances of a sound retirement.

Those 65 years or older with financially independent children are more than twice as likely to be retired than people of the same age group who financially support their adult children, according to a new report that retirement market research firm Hearts & Wallets shared with CNBC.com.

That's because those who are still supporting their kids are often putting off retirement to do so, said Hearts & Wallets co-founder Chris Brown.

Continue reading the source article here at NBCnews.com

Damian J. Sylvia