Have you done a retirement check-in lately?

Retirement Services and Planning advisory in USA

As 2020 winds down and we look ahead to 2021, now might be a good time to check in with your financial and retirement goals.

Considering your insurance needs is one part of creating a solid plan, and there are several other factors to consider as well.

Here are a few things to think about, no matter where you are on the path to retirement.

Retiring Early

If you’re hoping to retire early, then careful planning is essential. 

  • Saving and eliminating debt. You’ll probably need to save a significant portion of your income and work toward paying off any debt you have. 
  • Investment planning. Put your savings to work generating income to help support you during retirement. 

Retiring Within the Next Few Years

With retirement 5 to 10 years away, you can think about: 

  • Reviewing your assets and debts. Now is the time to make sure you’ll be prepared to retire by your target date. Do you need to make any adjustments to meet that goal? Talking to a financial advisor could be helpful at this stage.  
  • Income planning. How will you cover expenses during retirement? Make sure you’ll have enough savings and passive income to meet your needs. 

Retiring Soon

If your retirement date is imminent, it might be time for:

  • Health insurance planning. You should know your health insurance situation ahead of time. Will you qualify for Medicare, or will you need to explore private insurance? 
  • Budgeting. You’ll need a detailed budget that takes into account your retirement income and spending.  

Already Retired 

As you know, it’s still important to keep track of your financial situation after you’ve retired.

  • Retirement income. Your income can fluctuate. Carefully manage your Social Security benefits and investment withdrawals to maximize your income.  
  • Evaluate spending. Keep on top of your spending habits and make adjustments as needed. 

Do you have questions about your current or future coverage options? Reach out anytime.