If you need cash and are wondering how you will pay for specific expenses, you may be taking a closer look at your retirement funds and wondering if you should move forward with the option to borrow this money. This is often a preferred option over simply taking the funds out of the account altogether with no intention to repay them. With a closer look at the steps it takes to borrow the funds, you may be able to make a more informed decision about whether this is an option that you want to move forward with.
A recent study conducted by the federal reserve concluded that 19% of Americans from age 55 to 64 do not have any money put back for their retirement. If a person still has a few years before reaching retirement age there a few ways they can generate some additional income. What are some of the ways of creating extra retirement income?
If you are retiring from your job, use this retirement letter sample as template for your formal notification.
Like any congratulation letter, a retirement congratulation letter needs to be sincere. If the writer is not expressing sincere good wishes, the retiree will be able to sense it. The aim of the letter is to create happy feelings, especially for a person who is retiring from a job they may have held for years. People face retirement differently. Some cannot wait to get on to their next adventure, to travel or simply relax by their pool. Others are sad to leave their working years behind and may face retirement as a wasteland with nothing to do. They may receive lots of cards and congratulations when they retire, but a formal congratulation letter will be something to cherish.
A retirement appreciation letter needs to be well thought through before it is written. Not everyone sees retirement in the same way. Some are happy and looking forward to a new life, and some believe they will be out of the loop of life and left behind. Whether writing to a co-worker, a friend or family member, it’s important to know how the person views retirement.
You have worked hard for years and saved consistently. You reached retirement with a hard-earned nest egg that you want to last for your golden years. You want to live comfortably and use your funds wisely. One way to increase your disposable income is to reduce taxes paid. Some ways to do that during retirement include: