Getting Started

Helpful Suggestions for Your Retirement Planning

Things to do:

  • Update your will, medical and legal powers of attorney, advance directives, trusts, and beneficiaries
  • Review your life and health insurance policies
  • Review your long-term care policy
  • Set aside a “rainy day” fund
  • Review pension and social security distribution options
  • Create retirement, distribution and cash flow analyses
  • Allocate assets to manage risk and distribute income*
  • Track your true after-tax expenses
  • Decide on the retirement lifestyle you want
  • Consider downsizing versus remaining in your current home
  • Budget for possible health care costs
  • Review Medicare and Medigap options

*Asset allocation does not ensure a profit or protect against a loss

Steps to avoid common errors:

  • Allow plenty of leeway in estimating life expectancy
  • Calculate generous health care estimates for unexpected or long-term catastrophic illness
  • Base your projected living expenses on a realistic cash flow plan
  • Plan for high inflation when projecting future living expenses
  • Use Social Security Administration statements to correctly estimate your Social Security income replacement

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