Life Stages Planning

RETIREMENT

Easy Street is paved with preparation.
You work long hours. You're more concerned with what you're having for dinner tonight, let alone what your entire lifestyle will look like in 30 years. You feel like you're never going to retire. Or you're getting closer to it and wondering how to maximize time and resources. Wherever you fall on the spectrum, there are simple steps you can take today to help set yourself up for tomorrow.

  Keeping a Sense of Purpose  

  • Create a new routine

  • Try things you've always wanted to do

  • Spend more time on the hobbies you love

  • Travel

  • Volunteer

  • Work part-time, consult, or start a new enterprise

  • Help a family member

  • Maintain and grow social connections

  • Physical activity

  Insurance Changes  

  • Life Insurance

  • Large estates may want to increase life insurance coverage

  • Long-term care (LTC) insurance

  Pre-Planning Guidelines  

Decide now how you want your retirement to look and take the steps to get there:
 

  • Life expectancy - consider overall health and family history to get a better estimate of longevity

  • Start a retirement income plan 5-10 years in advance

  • Gradually phase into retirement to test the waters

  Living on a Fixed Income  

  • Prioritize your spending and get a handle on what financial resources

  • you'll have to cover expenditures

  Distributions from Accounts  

Get a handle on when distributions can be taken without penalty and know what taxation will be.

  • Required Minimum Distributions (RMDs)

  • Early Withdrawals (before age 59 ½)

 
 
 
 

Call

(904) 580 - 4698

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