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Tips for Preparing for Retirement from Equifax

Active adult community planningWhether or not retirement is on your immediate radar, if it is within a few years for you, it’s no doubt something that’s on your mind. Preparing to leave the workforce, downsizing into a smaller home (maybe finding a home in a Jacksonville active adult community) and budgeting to live off of savings will all be an adjustment. The retirement experts at the Equifax Finance blog offers three tips for planning for retirement in the recent article, “

Three Retirement Tips for 2014 Retirees.”

First, plan out how you are going to spend your time during retirement. Experts agree that it is important to find fulfilling ways for retirees to spend their time, from volunteering to pursuing a passion.

Second, decide when to claim Social Security. There is no magic time at which each person should do this, but it is something that should be carefully decided upon. Take into consideration your health, your cash flow and your employment during retirement. You can either take the reduced benefit starting in your early 60s or wait a few years to receive the full benefit. Contact your local Social Security office or visit to assess your benefits.

Third, look into your current savings and decide if any changes are needed. Revisiting your asset allocation may show that you might want to lower the risk in your investment portfolio. Your portfolio should keep up with inflation without being too risky. Keep in mind, of course that asset allocation does not ensure or guarantee better performance, and it cannot eliminate the risk of investment losses. It can however, help you stay on track with your retirement plan even during fluctuations in the market.

Get more tips on retirement at the

Equifax Finance blog, where you can also get tips on credit, identity theft protection, taxes, insurance and more.


Steps for a Smooth Transition into Retirement

Buying an active adult home in JacksonvilleHow many times have you seen someone “waste” their retirement years and you’ve sworn to yourself that you will not do the same and will make the best out of yours?  Transitioning into retirement, even if you have financial security, can be difficult for people who have worked their entire lives. Retirement is an adjustment period and a transition to Jacksonville active adult living. The retirement pros at Equifax have shared four steps to make the transition more manageable with the article “

4 Steps to Planning Your Transition to Retirement.

Step One – Assess your current lifestyle; examining how you spend your time and money. The article suggests making a list of the top three areas in which you spend your money.

Step Two – Identity your future goals. Make a list of what you’d like to accomplish in retirement. Do you want to redecorate your home? Learn a new language? Take an Alaskan cruise? Spend extended amounts of time with your grandchildren? Make a list of the things you want to do most.

Step Three – Come up with a plan for reaching those goals. Figure out what it will cost, how you’ll be able to afford it, what is needed to register for that foreign language class, etc.

Step Four – Things change; and your goals and plans may as well. Re-evaluate your plans every once in a while.

Read the full article for more details on these tips for transitioning into retirement; and get more helpful advice on retirement as well as many other personal finance topics, like credit, insurance, taxes,

credit ratings and more.

Events News

Get closer to your Financial Goals by sharing with Equifax

Reach your financial goals with EquifaxAn extra $1,000 will help regardless of what your

financial goals are, and that is just what Equifax is offering in the new

Equifax Family Money Matters Video contest. All it takes is making a short video (on any kind of device, camera phone to professional gear) about how you save money, and sharing it with Equifax by September 23 to enter to win. The top five entries will be rewarded with a full year of Equifax’s new credit monitoring service to keep their FICO score safe, and the grand prize winner will receive a $1,000 Discover gift card.

The entered videos will be voted on by the public, and then the top voted videos will be judged on quality and usefulness of information. There’s even a handy metric for how your entry will be judged:

  • 30% Relevance to Family Money Matters topic
  • 30% Usefulness of the information
  • 30% Shared stories and examples about how your family money tips and tricks have changed the way you manage your family’s finances
  • 10% Creativity

Good luck; and we can’t wait to see your entries! Check back with the Equifax Finance Blog to see entries as they come in and explore our wealth of frequently updated financial advice, from budgeting tips to how to best save for