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