Experts Urge 90+ Rule, Tax and Social Security Strategies

Financial planners urge adopting the “90+ Rule,” preparing to live into your 90s or beyond by postponing retirement when possible, investing for growth rather than safety, and preparing for rising health and long-term care costs. People nearing retirement who have insufficient savings or heavy debt are advised to work another year or shift to part-time to boost savings, pay down obligations, and potentially delay Social Security. Seniors with tax debt have IRS options — including offers in compromise, currently not collectible status, and innocent spouse relief — though interest and penalties may continue and reviews can take months. Social Security filers should remember the one-time do-over: you can withdraw an application within 12 months and repay benefits to refile later for a larger monthly payment, and timing Social Security remains a key planning decision. Employers and plan sponsors should implement SECURE 2.0 provisions allowing increased catch-up contributions for those aged 60–63, and anyone in the final pre-retirement year should run a thorough checklist of assets, debts, income sources, Social Security timing, and options such as tapping home equity to confirm readiness.