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After saving up your whole life, is it finally the right time to retire? It’s a complex decision with a lot of variables. In this episode, Mark Riepe examines how affective forecasting and optimism bias could hinder you from making the best decision. Mark talks with Robert Aruldoss, a senior research analyst for financial planning at the Schwab Center for Financial Research, about how much savings you should have, when you should sign up for Medicare, when you should take Social Security, and other factors influencing your decision of when to retire. You can read more about the rising costs of health expenses in retirement from the Employee Benefit Research Institute. Working longer and delaying retirement can be a powerful strategy. Read more about the benefits in this study. Subscribe to Financial Decoder for free on Apple Podcasts or wherever you listen. Financial Decoder is an original podcast from Charles Schwab. If you enjoy the show, please leave a ★★★★★ rating or review on Apple Podcasts. Important Disclosures: The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision. All expressions of opinion are subject to change without notice in reaction to shifting market conditions. Data contained herein from third-party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed. Investing involves risk including loss of principal. Past performance is no guarantee of future results. The Schwab Center for Financial Research is a division of Charles Schwab a Co., Inc. Apple Podcasts and the Apple logo are trademarks of Apple Inc., registered in the U.S. and other countries. Google Podcasts and the Google Podcasts logo are trademarks of Google LLC. Spotify and the Spotify logo are registered trademarks of Spotify AB. (0519-9YBN)