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Twelve Tips For A Happy Retirement: Re Tire Men T Re Adine Ss Checklist

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Djego Suárez Vivas

The document provides 12 tips for retirement readiness and financial planning. The tips include paying off debts, locking in healthcare coverage, planning housing needs both now and in the future, creating a detailed budget, making a withdrawal plan for retirement accounts, retooling investments to lower risk, building an emergency fund, completing estate planning, prioritizing a bucket list, parting with unneeded possessions, considering working part-time, and doing a practice run to envision daily life in retirement. Planning ahead across these financial and lifestyle domains can help ensure a happy retirement.

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Twelve Tips For A Happy Retirement: Re Tire Men T Re Adine Ss Checklist

Uploaded by

Djego Suárez Vivas
75 views1 page
The document provides 12 tips for retirement readiness and financial planning. The tips include paying off debts, locking in healthcare coverage, planning housing needs both now and in the future, creating a detailed budget, making a withdrawal plan for retirement accounts, retooling investments to lower risk, building an emergency fund, completing estate planning, prioritizing a bucket list, parting with unneeded possessions, considering working part-time, and doing a practice run to envision daily life in retirement. Planning ahead across these financial and lifestyle domains can help ensure a happy retirement.

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The document provides 12 tips for retirement readiness and financial planning. The tips include paying off debts, locking in healthcare coverage, planning housing needs both now and in the future, creating a detailed budget, making a withdrawal plan for retirement accounts, retooling investments to lower risk, building an emergency fund, completing estate planning, prioritizing a bucket list, parting with unneeded possessions, considering working part-time, and doing a practice run to envision daily life in retirement. Planning ahead across these financial and lifestyle domains can help ensure a happy retirement.

Copyright:

© All Rights Reserved
Download as PDF, TXT or read online from Scribd
Download as pdf or txt
75 views1 page

Twelve Tips For A Happy Retirement: Re Tire Men T Re Adine Ss Checklist

Uploaded by

Djego Suárez Vivas
The document provides 12 tips for retirement readiness and financial planning. The tips include paying off debts, locking in healthcare coverage, planning housing needs both now and in the future, creating a detailed budget, making a withdrawal plan for retirement accounts, retooling investments to lower risk, building an emergency fund, completing estate planning, prioritizing a bucket list, parting with unneeded possessions, considering working part-time, and doing a practice run to envision daily life in retirement. Planning ahead across these financial and lifestyle domains can help ensure a happy retirement.

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RE T IRE ME N T RE ADIN E SS C HE C KLI S T

Twelve tips for a happy retirement


When’s the right time to retire? You could set a date by a milestone, like when you reach a certain age or
save a certain amount. The important thing is to plan ahead. Use these tips to help you control your
finances and lifestyle post-retirement.

1. Pay off debts 7. Build an emergency fund


Work to pay off loans and credit cards before you retire, Save enough money to cover at least 6 months of
starting with those with the highest interest rates. You expenses in case of emergency. Keep the money
don’t want to lose retirement income on old debts. accessible in a separate savings or money market
account.

2. Lock down healthcare 8. Complete your estate planning


Research and choose a healthcare plan for yourself if Make sure you have a current will, power of attorney,
you retire before age 65. Otherwise, Medicare will take and healthcare proxy. If you haven’t already, designate
care of most of your needs. Since medical costs can be beneficiaries for your retirement accounts, insurance
your biggest expense as you age, consider adding plans, and other assets.
supplemental insurance.

3. Plan where you’ll live 9. Prioritize your bucket list


Will you stay put or downsize? If you move, will your new Review the things you’d like to do and places you’d like
location have a higher cost of living? Your housing may to visit in retirement. Schedule the more rigorous
change over time, so think through a variety of activities for the near future to take advantage of your
scenarios. health.

4. Create a budget 10. Part with less essential possessions


Estimate your expenses in retirement, by month and by Start setting things aside that you no longer use. Ask
year. The more detailed the better. Multiply your yearly your family what items they want and donate the rest.
budget by at least 25, to cover a longer retirement.

5. Make a withdrawal plan 11. Consider your next career


Track when your benefits begin for your pension, 401k, If you want to keep working, do it. Find a job or project
and IRA, noting which require minimum distributions. that fits your lifestyle and interests. The money you earn
Consider waiting until age 65 to apply for Social and pleasure you derive from your job can be very
Security to claim full benefits. rewarding.

6. Retool your investments 12. Do a practice run


Decrease your exposure to stocks and investments Envision what your days and weeks in retirement will be
with higher risk. Consider annuities, bonds, and like. List the interests, hobbies, and social
other, more conservative options. interactions you’ll engage in to make life fulfilling. Do
you like what you see? If not, what could you change?

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