When to Take Social Security, How Dividend Stocks Boost Retirement Income, Things You’ll Spend Less on in Retirement

We Need YOUR Help to Improve Kiplinger | When To Take Social Security Payments: Your Age Matters | Retirees: Want to Keep Your Money? Make a Tax Plan Created for {EMAIL} | [Web Version]( July 18, 2024 CONNECT WITH KIPLINGER  [LinkedIn]( [Facebook]( [X]( [Youtube]( [Instagram]( [Retirement Tips]( [SIGN UP]( ⋅ [WEBSITE]( [] Reader Feedback [] [We Need YOUR Help to Improve Kiplinger]( [We Need YOUR Help to Improve Kiplinger]( (Getty Images) Before we get into today's issue of Retirement Tips, we need your help. We want to understand our readers better so we can provide the articles you want that both matter the most and correlate directly to you. You're invited to take a [1-minute survey]( to tell us if you use tax software and if so, which do you use. Your replies are entirely confidential and none of the answers are personally identifiable. [] Social Security [] [When To Take Social Security Payments: Your Age Matters]( [When To Take Social Security Payments: Your Age Matters]( (Getty Images) Knowing when to take Social Security is tricky. Before you start taking benefits, [learn the rules and your full retirement age](. Here is a summary of when you will reach your FRA, by birth year. [7 Mistakes People Make When Hiring a Financial Advisor]( Working with a financial advisor can be a crucial part of any healthy retirement plan. But choosing the wrong one could wreak havoc. Avoid these 7 mistakes when hiring an advisor, so you can work to potentially save years of stress. [See the list]( ADVERTISEMENT [] Tax Strategy [] [Retirees: Want to Keep Your Money? Make a Tax Plan]( [Retirees: Want to Keep Your Money? Make a Tax Plan]( (Getty Images) Your retirement plan isn't complete unless you have figured out how to [lessen the impact of taxes on your nest egg](. Here's where to start. [] Investing Tips [] [Dividend Stocks Can Boost Your Retirement Income Stream]( [Dividend Stocks Can Boost Your Retirement Income Stream]( (Getty Images) The higher your [tax bracket](, the more critical it becomes to diversify your investments. While strategically choosing investments is important, where you choose to let them live is just as important to keep your portfolio tax-efficient. [Let's look at dividend stocks and how investors can leverage them effectively]( in taxable accounts. [Can You Reap These 3 Tax Benefits For Your Trust?]( Choose Nevada for trust administration to take advantage of no state income tax and strong asset protection laws. An irrevocable trust offers significant benefits, including shielding your assets from creditors and reducing estate taxes. [LEARN MORE]( ADVERTISEMENT Featured Content Sponsored Content from Kiplinger Retirement Planning 2024 [Plan and enjoy a worry-free retirement.]( Whether you've already left the workforce or you're just beginning to think about it, [Kiplinger Retirement Planning 2024]( will show you how to maximize your 401(k), select top-performing investments, get the most from Social Security, protect your estate, ensure affordable top-notch health care and much more. [Click to see table of contents.]( [] Retirement Spending [] [Nine Things You'll Spend Less on in Retirement]( [Nine Things You'll Spend Less on in Retirement]( (Getty Images) We often fret about not having enough cash in retirement. But you might be surprised to see some of the things you'll find yourself [spending less on as you enjoy your golden years](. [Help Minimize Your Taxes in Retirement]( Our advisors can help you focus on withdrawing your retirement money in a way that helps keep your taxes low. The less you pay in taxes, the longer your money can last. You've worked hard to build up a nest egg and Vanguard advisors are here to help. [LEARN MORE]( ADVERTISEMENT [] Lifelong Learning [] [Free (or Cheap) College for Seniors and Retirees in All 50 States]( [Free (or Cheap) College for Seniors and Retirees in All 50 States]( (Getty Images) There's still a lot to learn in a happy retirement. A commitment to lifelong learning can have enormous benefits, whether your goal is pursuing a [second act in your career](, lifelong learning to keep your brain sharp or finally completing that long-sought-after degree. [] RELATED KIPLINGER ARTICLES WE THINK YOU'LL ENJOY [] [TaxAct Class Action Settlement: Details to Know]( A multimillion-dollar settlement over alleged data privacy violations affects some TaxAct customers. [An IRA Contribution Option You Might Not Know]( Retirement savings might not have to take a back seat just because your partner doesn't earn income. 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