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1021223-00006-00
Avraham "AY" Rappaport, CLTC
President, Financial Professional
Yaniv "Jay" Natanov
President, Financial Planner
Eli Rappaport
Vice President, Financial Planner
Shlomo Rosenstein
Financial Professional
Ozzie Marizan
Financial Planner
Joseph Greer
Employee Benefits Administrator
Dylan Pinsky
Client Relations Manager
Premier Financial
6395 Dobbin Road, Suite 102
Columbia, MD 21045
Phone: 240-309-6001
Email: dylan.pinsky@prudential.com
Website: premierfinancial1.com
January/February 2024
Retirement: Is It Time?
When you think about retirement, what is foremost in your mind? Freedom from work? The chance to spend your time the way you want? The amount of money you will need to save to live comfortably?
Your Work Environment
Your attitude about your current job and workplace may influence your feelings about retirement. Are you ready to stop working, or do you simply want a change? Lack of satisfaction with your work life may mean you’re ready for a new challenge. It also could be a sign that you’re ready to leave the working world behind.Baby Steps
If you’re not ready to fully retire, consider asking if your company will allow you to work part-time. Cutting back on your hours can give you more leisure time without severing your connection to colleagues and the workplace.Consider whether or not you’ll lose benefits you need, including health insurance and contributing to a retirement account. Don’t forget about matching contributions.
Your Finances
Where will your money come from when you retire? Will income from Social Security, retirement accounts, and pensions be enough to maintain your lifestyle? Before you make a decision, you and your financial professional should review your current and anticipated expenses and create a realistic projection for your future. Discuss what you hope you retirement will look like, such as travel, hobbies, or even a move to another state or country.Health Concerns
You’ll want to spend as many years as possible enjoying retirement. Personal health problems or a family history of medical or cognitive issues could influence your decision to retire.Social Security Decisions
The retirement age (FRA) for receiving full Social Security benefits is currently 67, but you can receive reduced benefits starting at age 62. Social Security benefits increase for each month past FRA that you delay taking them, up to age 70.A Business Plan
Starting your own business or working as a contract worker in your field of expertise can give you more freedom while still providing an income. Consult your tax advisor regarding the rules that apply to self-employed individuals.1052405-00004-00
Premier Financial is not affiliated with Prudential Financial. Premier Financial sells insurance products of Prudential Financial's affiliated insurance companies in addition to products of non-affiliated insurance companies. Premier Financial is authorized to sell and service certain insurance products of Prudential Financial companies as well as use this material. Premier Financial and its representatives do not give tax or legal advice. Please consult with your own advisors regarding your particular situation. Offering financial planning and investment advisory services and programs through Pruco Securities, LLC (Pruco), under the marketing name Prudential Financial Planning Services (PFPS), pursuant to a separate client agreement. Offering insurance and securities products and services as a registered representative of Pruco, and an agent of issuing insurance companies. 1-800-778-2255. Dylan Pinsky is employed by Eli Rappaport and not The Prudential Insurance Company of America or its subsidiaries.
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