Being as prepared as possible before you reach retirement will ensure you’re able to enjoy the next chapter of your life to the fullest. To do that, you need to get your numbers in order, understand what you want out of retirement, and make sure you have healthcare covered. Let’s go through each of these items you need to take care of during your final years of work.
Click the timestamps below to jump ahead in the episode…
Other Retirement Facts:
As you approach your retirement date, it’s easy to put things off and tell yourself you have plenty of time to take care of it later. But procrastination might leave you scrambling to get your finances in order at the last minute.
We want to help you make your plans and help you understand where to focus during your final years of work. Some call it the ‘financial redzone’ and knowing your plays will put you in a position to finish on a high note. Plus, why not start early so you don’t have to rush through the planning process?
On this episode, Phil will lay out a course of action that you should take during your final decade of work. It doesn’t necessarily have to be over 10 years, but the earlier you start, the easier it will be. By following this list of steps, you’ll know all of the pieces of retirement are in place for you to have a stress-free and rewarding retirement.
Listen to the full episode for more on these topics or click on the timestamps below to skip around.
1:09 – Phil is getting ready to take a trip to Disney with the grandkids.
2:01 – In the news: Rates have dropped and they might get trimmed again. What are Phil’s thoughts?
4:30 – Introducing this week’s main topic of where to focus during your final decade of work.
5:26 – The first thing to do is figure out what’s important to you.
6:58 – Once you know what you want it to look like, you need to understand the numbers.
7:55 – To maintain a certain lifestyle, budgeting is important.
10:38 – Next item is estimating your income streams.
11:58 – Now you need to get a handle on healthcare.
15:33 – The final piece is understanding that needs will evolve as you go through retirement.
18:08 – Email question: I’m retiring in six months and I’m worried what will happen if we have a market crash before I get to the finish line. Will I be okay?
A Quotable Moment: