Choices to retire after 70

Life insurance tax regulations become less favorable after age 70, with a reduced tax allowance of €30,500 for beneficiaries, prompting many savers to avoid it. However, it can still serve as an effective tool for protecting a surviving spouse, as they remain exempt from taxes regardless of the amount. Retirement is a time for financial management and the opportunity to reshape one's lifestyle, though retirees should be mindful of living on a fixed income. The Thrift Savings Plan (TSP) participation among federal employees has reached record levels, indicating a strong commitment to retirement savings. It's crucial for late starters to assess their budget and eliminate debt to improve their retirement prospects. Ultimately, regardless of age, it's never too late to adapt financial strategies for a secure retirement.