How You’ll Know If You’re Ready for Retirement.
“Retirement! Exciting and new!” Hey Captain Stubing, we’re expecting you! We heard you’re trying to send that Pacific Princess out to sea. Sure, you’ve got a lot of Love for the Boat you work on, but the rowdy passengers have been getting too turned up in the bar with Isaac, and you just can’t gopher it anymore. We get it. Even Doc says your heart isn’t in it. But before you set a course for a new adventure, make sure you have what you need before you ship off to your retirement.
We, at Achieve Financial Group, have booked a cabin suite, so we can become your financial cruise directors. Once we’re aboard, we’ll meet you on the Lido deck to help you on your retirement voyage. Don’t worry; Achieve Financial Group is the real McCoy. We’ll be there to tell you some important things you need to know before you get to your next port where your retirement awaits:
- Create a spreadsheet – List your assets like cash, property and investments. Include your liabilities, which are your debts and legal responsibilities.
- Pay your debts off – Pay your debts with the highest interest rates first. Pay your mortgage last, since it will most likely have the lowest interest rate.
- Analyze your house needs – Make the most economical and comfortable choice for your existing or new home.
- Assess life insurance needs – Have enough insurance to pay your executor, for estate planning and other purposes.
- Consider long-term care insurance – If you need long term care, a long-term insurance plan will cover your expenses for an extended period of time.
- Consider variable annuities –You can receive a guaranteed series of payments over a specified period.
- Oversee estate planning – Review your will and accounts at least every five years. You should know who the beneficiaries are on the will and other accounts.
- Chuck college expenses – Start your children’s college funds when they’re small, so you don’t have to spend your retirement savings on your children’s education.
- Get a financial planner – A financial expert can determine if your financial situation is in the best order for you to retire.
- Prepare a budget – Create a spending plan that will cover your living expenses.
Okay Merrill, now you have the life jacket you need before you reach the retirement shore. It won’t only keep you afloat, but you’ll be docked exactly where you want to be and where retirement will be the sweetest reward. Let us help you get ready financially to retire with our Achieve More Retirement Checklist! [email protected]