Readiness Questions
If you can answer the following questions about your upcoming or current retirement, you may be RETIREMENT READY. If not, we can help.
- Will your money last your lifetime?
- What is the “safe withdrawal rate” from your assets to avoid early depletion?
- Can you identify which income sources and assets are protected against inflation?
- How will future inflation impact your purchasing power as you age?
- When is the optimal time for you (and your spouse) to claim Social Security benefits?
- Will your tolerance for investment risk be different during retirement than in working years?
- Do you follow a strict budget? Should you after retiring?
- If married, how would an early spouse’s death impact the survivor’s retirement income?
- Can your finances withstand increasing health care costs as you age?
- Would an extended long term care event break you, leaving a spouse desperate?
- What is the proper order of distribution from tax deferred versus taxable accounts?
- Should you own a second home in retirement? Can you handle the carrying costs?
- Should you tap into your home equity to live on?
- Will you have enough assets left to leave a legacy to family or charity?
- Are you willing to live on less due to financial mistakes made over the years?
To learn more about retirement planning, contact us for a complimentary consultation.