do you want to retire?
does retirement look like to you? We suggest reading "The
New Retirementality" by Mitch Anthony.
Consider "practicing retirement" by living on what you
believe will be your income in retirement to determine if you
will have enough to meet your needs.
Understand your annual after-tax income needs.
your income needs increase or decrease in retirement?
Understand the impact of taxes in retirement
taxable income will you have from Social Security, pensions,
annuities and investments?
impact will taxes have on your tax-deferred retirement savings?
you prepared in the event of long-term illness?
you retire before age 65, how will you bridge the gap between
retirement and Medicare benefits?
Determine when is the best time to take Social Security.
Determine if your Social Security benefit will be taxed, and at
you plan on traveling or maintaining your current lifestyle?
Understand how inflation will impact your purchasing power.
Where do you want to live in retirement?
having your home paid for the best use of your retirement funds?
Remember, you can’t eat your house!
you want a second residency, what are your best options — own
or rent? What states are most tax favorable?
equity line of credit
a home equity line of credit (HELOC) in place prior to
can often provide valuable flexibility to offset tax impact in a
given tax year.
Evaluate portability of your current employer benefits.
Understand your rollover options, stock option and their tax
much of your money is saved in taxable, tax-deferred and
order to control taxes, determine where you will tax
distributions for your cash flow.
your current level of savings sufficient to meet your retirement
your risk match your objectives?
Review your estate plan
your estate planning documents up to date and will your assets
pass to your heirs the way you want?
Review your life insurance and evaluate the benefits of
long-term care. M