How to Pick the Right Retirement Date

Make sure your retirement date doesn't cause you to leave money on the table. Here's what to consider.

(Image credit: HUNG KUO CHUN)

Employer 401(k) matches and bonuses. Most employers match contributions throughout the year, says Carol Sladek, head of work-life consulting at Aon Hewitt, but a few make a single contribution in December. Profit-sharing and bonuses are generally awarded at year-end. If you're due a cash payment, set your retirement date accordingly.

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Jane Bennett Clark
Senior Editor, Kiplinger's Personal Finance
The late Jane Bennett Clark, who passed away in March 2017, covered all facets of retirement and wrote a bimonthly column that took a fresh, sometimes provocative look at ways to approach life after a career. She also oversaw the annual Kiplinger rankings for best values in public and private colleges and universities and spearheaded the annual "Best Cities" feature. Clark graduated from Northwestern University.