Do I ever stop talking about retirement? It would seem not. However, talking constantly about saving and investing for the future doesn’t really address the actual transition from earner to retiree. So, here are some questions I hope pre-retirees are getting help with before they tell their bosses to “take this job and” – well, you know how the song goes.
- How much will I have in Social Security and pension income?
- How much will I spend each year in excess of my Social Security and pension payments?
- Do I have enough saved to support the above spending? If not, what are my alternatives?
- Are my investments aligned in a way that makes sense for short term withdrawals and future growth?
- How will I handle tax payments now that there is no withholding from a regular paycheck?
- Is my home the right one for retirement? Too big? Too expensive? Too far from family? Too many stairs? Too many repairs?
- Do I still need the life insurance that I have been carrying?
- When should I take Social Security?
- Is Medicare A and B providing me with adequate medical coverage or do I need to supplement with a Medigap plan?
- Who will take care of me if I am unable to take care of myself? How will that care be paid for?
This is not a total list, but it’s a good start. If you are thinking of retiring soon and don’t have answers to these questions, consider meeting with a financial planner (like me!) to discuss those first steps into retirement.
If these topics sound like they would be of interest to your employees, sales conference, or professional organization, contact me at 303-324-0014 or kristi@