Select all the correct answers.
Jacob is nearing retirement. How can he ensure that he has enough funds after retirement?
rely on emergency funds
rely on annuities
take out a loan
look for a part-time job
ask his daughter for financial support
Answers
Answer:
Be aware that if you work part-time and tap Social Security early, the income can affect your benefits.
Experts advise closely evaluating your expenses, sources of income and the potential tax implications that come with different types of income.
Your asset allocation — how your portfolio is divvied up among stocks, bonds and cash — also should be reviewed.
For anyone getting close to joining the ranks of retirees, there are some key aspects of your impending new status you need to review.
Roughly 10,000 baby boomers turn 65 every day, the age most often associated with retirement. Of course, not everyone hangs up their working hat at exactly that age, which means your own situation could be very different from that of someone else on the edge of retiring.
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