The Transition into Retirement

What is it?

The transition into retirement is when you are changing from your full-time working years to your retirement years. If retirement is approaching, you may have to make numerous decisions. Can you afford to retire? What about early retirement--is it a possibility? If you want to continue working, are there other considerations? Your first step is to review your sources of retirement income and estimate your retirement needs. See our topic discussion, Determining Retirement Income Needs: Preretirement. The closer you are to retirement, the more accurate a picture you should be able to get. Even more, you should consider the timing of your retirement.

Early retirement

Your company is offering an early retirement package, and you're considering taking it. Maybe you've always dreamed of retiring early and enjoying yourself while you're still young, and now you want to make that dream a reality. Whatever your situation, you need to understand the consequences of retiring early. If you're evaluating an early retirement offer from your employer, you should understand the basic components of early retirement offers and how they affect you. Even if there isn't a special offer on the table, you've got to understand the downside of early retirement, specifically with respect to Social Security benefits. See our topic discussion, Early Retirement Considerations.

Delayed retirement

Delaying retirement is usually considered for one of two reasons. Either you can't afford to retire or you enjoy working too much to stop. Regardless of why you're considering the delay, the consequences are the same. Aside from the obvious benefits of delaying retirement (you can save more, you don't have to start consuming retirement funds, etc.), you should also consider the effect that your decision will have on the Social Security benefits that will be available to you and how the timing of your retirement could affect your IRAs and employer-sponsored retirement plans. See our topic discussion, Delayed Retirement Considerations.

This material was prepared by Broadridge Investor Communication Solutions, Inc., and does not necessarily represent the views of The Retirement Group or FSC Financial Corp. This information should not be construed as investment advice. Neither the named Representatives nor Broker/Dealer gives tax or legal advice. All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. The publisher is not engaged in rendering legal, accounting or other professional services. If other expert assistance is needed, the reader is advised to engage the services of a competent professional. Please consult your Financial Advisor for further information or call 800-900-5867.

The Retirement Group is not affiliated with nor endorsed by,,,,, ING Retirement, AT&T, Qwest, Chevron, Hughes, Northrop Grumman, Raytheon, ExxonMobil, Glaxosmithkline, Merck, Pfizer, Verizon, Bank of America, Alcatel-Lucent or by your employer. We are an independent financial advisory group that specializes in transition planning and lump sum distribution. Please call our office at 800-900-5867 if you have additional questions or need help in the retirement planning process.

The Retirement Group is a Registered Investment Advisor not affiliated with  FSC Securities and may be reached at

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Tags: Financial Planning, Lump Sum