How do I know if I’m saving enough for retirement? Should I accept an early retirement offer? When should I start taking Social Security distributions? Will I have enough income or will I need to continue working?
To help individuals make informed decisions as they head toward retirement, family finance specialists for Iowa State University Extension and Outreach have revised the “Retirement: Secure Your Future” publication series. It is now available for free download from the ISU Extension and Outreach online store. “Retirement: Secure Your Future” consists of 16 publications designed to inform adults of all ages of key concepts and management decisions related to retirement. The series includes tips for individuals just entering the workplace, worksheets to determine income needs in retirement, estimation exercises to see if you are on track or need to make adjustments in your contributions, housing and legal considerations as you age, and more.
The Retirement Transitions series (PM 1825 a-d) is a new addition for individuals nearing retirement. Four topic areas are covered that explain options for income distributions: Strategies for Retirement Income, Social Security, Required Minimum Distributions, and Income Annuities will explain the pros and cons of the choices retirees must make. Reading will prepare you for the conversations you may have with professionals when it’s time to structure your retirement income flow.
Whether you are 20, 30, 40, 50 or 60, taking time to do some retirement planning results in greater financial security.