Baby Boomers are reaching their full Social Security age with big plans for retirement. We’re ready to help.
This year the oldest members of the Baby Boom generation will blow out 66 candles, the age at which most are eligible for a full Social Security retirement benefit. That extra income will help many Boomers transition from a full-time job to part-time work or total retirement—and a new set of lifestyle challenges.
If you’re part of the generation born between 1946 and 1964, it’s a good idea to start mapping this new financial landscape as early as you can. For example, you’ll want to think about:
- How will you spend the time you used to put in at work? If you’re in good health, you have a lot of options, including volunteering for civic or charitable roles.
- Will most of your debts be paid off?
- Will you spend less on some things, such as gas, parking, or clothes?
- Will you spend more in other areas, such as travel, hunting or fishing, golf, helping elderly relatives, or buying things for grandkids?
- If you own multiple vehicles, will you need them all? You might consider reducing maintenance and insurance bills (and generating extra cash) by selling a car, boat, four-wheeler, or snowmobile you don’t plan to use much.
Planning a successful retirement depends, in large part, on making the most of your money. It’s never too late to sit down and start mapping out how your money will work for you during your retirement years. We’re ready to help.
At VSECU we offer retirement planning services through Members Financial Services. Brian Bishop is a financial advisor who can help you reach your financial retirement goals so that you can experience the lifestyle you dream about.
So Happy Birthday, Boomers! We hope you can sit back and relax and enjoy your dreams!