The Best Places to Work in Retirement

Just over a quarter (26.2 percent) of people age 60 and older remain employed. But in some cities, nearly a third of the population continues to work during the traditional retirement years, according to 2012 Census Bureau data. Here are the places those age 60 and older are the most likely to be employed.

Continue reading source article at USnews.com.

Damian Sylvia

Managing Partner

Retirement Income Solutions

5 Retirement Planning Items you Should Take Care of Now

I am amazed at how many people I meet who haven't prepared properly for their retirement, a time of life when you will go without earned income — potentially for decades.

Whether you are your own financial adviser, embarking on this project alone or you have procured the help of a professional adviser, there are numerous considerations you will need to address. All of them will take time to think through and give due consideration before making final decisions. 

Here are five important issues, often over looked, which will require your attention during your preplanning:

Click here to read the source article at MarketWatch.com.

Damian Sylvia

Retirement Income Solutions

5 Steps to prepare for a 2015 retirement

If you've spent the past several decades working and are looking forward to retiring in 2015, the last thing you probably want to hear is that there's more work ahead. But a successful transition to a secure retirement is well worth the extra work and preparation.

Here are five steps to prepare for a 2015 retirement:

1. Craft a monthly budget or spending plan

A budget or spending plan helps determine what you expect to receive in retirement income vs. your anticipated living expenses. Open a notebook or a spreadsheet and, in one column, write down your expected monthly income, including Social Security, pension and withdrawals from your retirement funds. In a second column, estimate your average monthly expenses, which gives you a framework of your finances.

"Take a test run first," says Curtis Sheldon, a financial planner based in Alexandria, Va. "If you can, try living on what you expect your retirement living expenses to be. Can you do it?"

You might not be able to increase your income much in retirement, but you can certainly pare down your expenses. Money-saving ideas include downsizing into a smaller home, moving to a city with a lower cost of living, selling a car you might not need and taking fewer vacations.

Click here to continue reading the source article at USAToday.com.

Damian J. Sylvia

Managing Partner

Retirement Income Solutions