Retirement Checklist and Your Retirement Savings

checklistBefore you leave your job, here is a checklist of important must dos!  First of all, schedule and appointment with your HR department.  Have a list of questions and don’t leave without the answers.  This will impact the rest of your financial life!  Also, get help and answers from other experts.

Have a pension or defined benefit?  Be sure to understand how to claim your benefits and how much you will receive.  There are several ways to take your benefit and you need to explore which one will serve you the best.  Don’t forget that the best way to use this is with outside plans.  Does your plan offer an incentive for staying past 65?

Control your 401(k).  If you cash it out, you will have a huge tax bill!  Roll it over to an IRA and then you can manage your retirement savings.  You may consider rolling your retirement savings into an annuity which will give you an income you cannot outlive.  (I have several different annuities to fit your needs.)  This huge chunk of your savings needs to last as long as you do.

What is happening to your health care?  Are you still eligible for your employee/retiree health insurance or will you be using Medicare?  I can help you with your Medicare options.

What is your Social Security strategy?  How much can you earn the year you retire or turn 66?  Should you file and suspend?  Do you have spousal benefits from your current or ex spouse?  When is your break even point for early, full retirement age or waiting until 70?  I can show you your options.

These and many more questions plan your retirement. I can help you maximise your retirement income.

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Retirement Checklist and Your Retirement Savings
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