Planning to Retire in 5 Years? Here Are 5 Things You Absolutely Need to Do
If you're at the point where retirement is a mere five years away, you may be getting increasingly excited about making your workforce exit. But before you start picturing your newfound freedom, make sure to tackle these very important moves.
Social Security may end up being an essential income source of yours in retirement. And even if you bring in a nice amount of savings, there's something to be said for the fact that the program is designed to pay you your monthly benefit for life.
As such, it's important to know what benefit you're in line for. If you're only five years away from retirement, the estimate from your latest earnings statement should be reasonably accurate. And you can access that earnings statement by creating an account on the Social Security Administration's website. You may not have a paper copy, since those usually aren't sent by mail until people turn 60.
Source Fool.com
