Enable Accessibility
×
Close
Personal Online Banking
All personal banking clients, please enter your online credentials here:
e‑Treasury Business Banking
Log in
Safeguarding your online banking sessions is our top priority. For information about how you can help protect your online banking sessions, or if you need additional assistance with your e-Treasury log-in, please contact Client Support at [email protected] or 855.274.2800.

Download our e-Treasury Secure Browser

Business Online Banking
If you need assistance, please contact Client Services at [email protected] or 855.274.2800.
e‑Treasury
Log in
Safeguarding your online banking sessions is our top priority. For information about how you can help protect your online banking sessions, or if you need additional assistance with your e-Treasury log-in, please contact TM Service at [email protected] or 212.575.8020.


Download our e-Treasury Secure Browser

Download the Sterling e-Treasury Token Client


Business Online Banking
If you need assistance, please contact Client Services at [email protected] or 855.274.2800

For optimal viewing experience, please use a supported browser such as Chrome or Edge

Download Edge Download Chrome

When’s the right time to retire?

Published on July 1, 2021 | LPL Financial

Retirement is inevitable, but knowing exactly when to do so is often unclear. No matter when you actually begin your retirement, you’ll benefit from planning your post-work life as early as possible.

According to Gallup, the percentage of Americans who expect to retire at age 66 or older has risen dramatically, from 21% in 2002 to 41% in 2018. People expect to live and work longer than ever, so its never been more important to know when to stop working and how to carefully plan for the big event.

The Social Security full retirement age

For persons born in 1960 or later, the Social Security full retirement age is 67. You will receive 70% of your monthly benefit if you retire at age 62, and 86.7% at age 65. However, you’ll get the maximum monthly benefit if you wait till age 70. These milestones might be an important consideration if your Social Security benefit will be a sizable portion of your retirement income.

Separate financial considerations from emotional ones

If you’ve successfully executed your long-term investment plan, you might be financially prepared to retire well before you are emotionally ready. Facing lifestyle changes at retirement might cause anxiety about how your life will evolve and how you’ll spend your time. It’s important to objectively evaluate your financial condition to support your decision-making, even as you contend with your feelings about retirement.

Many folks need more money than they think

It’s virtually certain that life will offer you one or more surprises along the way. You might find you will need more money than anticipated to fund a comfortable retirement. Creating a post-retirement budget can give you a general idea if your retirement savings alone can sustain you. As you near retirement age, it’s important to regularly review your savings plan to manage risk and help put yourself in a position to save the maximum amount possible.

Retirement impacts small-business owners

It’s not time to retire until you’ve worked out what to do with your business. If you plan to keep it in the family, retirement means executing a succession plan involving relatives or partners who have the knowledge and interest to keep your business going after you retire. Alternatively, you might want to sell the business, which requires extensive planning and preparation. Once sold, your planning should spell out how you’ll deploy your sale proceeds to support your retirement in the most efficient manner.

The common theme is planning

Whether you want to retire at 55, 85, or any time in between, planning is the key to a happy life in your golden years. At Webster Investments we are here to help you periodically review your retirement options. Call us today for a no-obligation financial review that will help to evaluate whether the time has arrived to wrap up your work life and start enjoying your retirement years.

Disclaimer

This material was prepared for Webster Investments and does not necessarily represent the views of the presenting party, nor their affiliates. This information has been derived from sources believed to be accurate. Please note – investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty.

MRR Tracking Number: #1-891250

Related Resources

Webster InvestmentsArticles
A checklist for your retirement planning
Remember, it is never too early to start planning for your future The time to begin planning for your financial future is now. So, when it comes to preparing for retirement, the earlier you start, the better. Here are some steps to help you pursue your overall objectives: Review your current financial situation by assessing […]
Webster InvestmentsArticles
4 pre-Medicare strategies for managing healthcare costs
Planning for early retirement is great, but planning for healthcare coverage at the same time is sometimes more difficult. Healthcare costs are high, and finding ways to bridge the gap between the age you retire and the time you are eligible for Medicare may take a lot of planning. If you are close to your […]
Webster InvestmentsArticles
Have you checked your retirement plan lately
It’s generally a good idea to review your employer-sponsored retirement savings plan at least once each year and when major life changes occur. If you haven’t given your plan a thorough review within the last 12 months, now may be a good time to do so. Have you experienced any life changes? Since your last […]
Connect With Us
Learn more about Webster products, services and the communities we serve.
We’d love your feedback
×