How to Achieve Your Goal of Retiring at Age 70, Ep #95

What can you do to help you achieve your goal of retiring at age 70? When you write goals down, you increase your odds of completing them by 10x. So the first thing you can do to increase your odds of retiring at 70 is to write down: “My goal is to retire at age 70.” Now, you need to write down other things you can do to maximize your chances of reaching your goal.  <p>You might write down, “I will delay my social security benefit until age 70.” That would maximize your social security. However, I’ve run retirement plans where it makes the most sense to collect social security at full retirement age instead. Then you can invest those dollars in things like growth mutual funds. </p> <p>What other things can you add to your lease to achieve your goal of retiring at 70? Listen to this episode of The Retirement Made Easy podcast to learn more! </p> <h2>You will want to hear this episode if you are interested in...</h2> <ul> <li>[0:22] A BIG thank you to my listeners</li> <li>[5:56] The importance of writing down your goals</li> <li>[8:40] Claim social security at age 70</li> <li>[10:02] #1: Pay off your house or downsize</li> <li>[10:53] #2: Consider taking on a part-time job</li> <li>[13:58] #3: Find ways to save more for retirement </li> <li>[16:08] #4: Review how your retirement accounts are invested</li> <li>[18:44] #5: Sit down with a retirement planner </li> </ul> <h2>#1: Pay off your house or downsize</h2> <p>You might want to pay off your mortgage before you retire. Or, you can downsize into a smaller home prior to retirement to save more money leading to retirement. I had one client who still lived in a 4,000-square-foot house after his kids grew up and moved out. He never used the second level or the basement. But he had a hard time selling it because it was where he raised his kids. But the best strategy for him was to downsize. </p> <h2>#2: Consider taking on a part-time job</h2> <p>Retirement doesn’t have to be all or nothing. I know multiple clients who work part-time in retirement because it keeps them