Creating a Financial Plan
Is 60 the new 40? While many boomers are as physically fit as their younger colleagues, they need to act their age when it comes to finances.
It’s time to make some important decisions that could really impact the next decades.
1. Strategize Social Security.
This is when your hard work starts paying off. You can begin taking benefits as early as age 62, or as late as age 70. When’s best for you?
2. Review your retirement expenses.
You need to have a realistic idea of your future financial expenses when planning your retirement.
3. Update your estate plan.
Having an estate plan isn't enough if it isn't current. If you’ve made a change like divorce or marriage, you may need to make some updates.
Once you’ve checked off this to-do list, you can focus on the future and living life to the fullest.
Investments are not FDIC-insured, nor are they deposits of or guaranteed by a bank or any other entity, so they may lose value.
Investors should carefully consider investment objectives, risks, charges and expenses. This and other important information is contained in the fund prospectuses and summary prospectuses, which can be obtained from a financial professional and should be read carefully before investing.
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This content, developed by Capital Group, home of American Funds, should not be used as a primary basis for investment decisions and is not intended to serve as impartial investment or fiduciary advice.