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Many Gen Xers are pessimistic about their financial future and feel they are falling behind in preparing for retirement.
Target date funds are not customized to your situation, everyone is treated the same based on age. The allocation of the fund does not take into consideration other financial considerations in your life and your tolerance for risk.
Waiting to take Social Security at 70 provides a form of longevity insurance against this risk.
In most cases, to qualify for survivor benefits you must have been married for at least nine months. If you remarry before age 60 you cannot draw survivor benefits; however, you can regain eligibility if the marriage ends.
Individuals who are over 72 must take their RMD by December 31st of each year. If you are turning 72 this year, you have until April 1, 2022.
Before retiring, you should have a clear idea of your projected retirement expenses.