Preparing for retirement? Before you “Get There”, you’ll need to consider some very important items and make sure you have “checked each box”, and made sure your affairs are in order and you have the below ten crucial steps “Done”.
Do You Have a Retirement Budget? What will your income be? How can you confidently spend the money you have accumulated for retirement? Are your expenses clearly laid out?
Do You Have Adequate Emergency Savings? Prepare for emergencies by saving at least 3 months’ living expenses, and have that money in a cash equivalent account?
Do You Have a Tax Strategy? Have a sound tax strategy to guide you through the process of spending money from either taxable or tax-deferred accounts.
Do You Have The Proper Lifestyle & Location Organized? Consider where you’ll live, both short- and long-term. Have a plan for funding a move and understand the timing involved.
Do You Have Enough Guaranteed Income So Your Fixed Expenses Are Paid? Have a strategy so that between social security, pensions and annuities all of your fixed expenses can be paid.
Do You Have Your Bucket List Clear? Write down your personal goals for your retirement years. Explore your dreams, priorities and values.
Do You Have a Long Term Care Plan? Make arrangements in the event that you or a loved one encounters a health issue requiring full-time care.
Do You Have an Estate Strategy? Develop an estate approach that includes how you want your assets to be allocated, and who will handle your estate.
Do You Have Your Health Insurance in Place? Understand your options with Medicare and define a strategy for covering health care expenses for the long haul.
Do You Have a Social Security Strategy? Have a sound tax strategy to guide you through the process of spending money from both taxable and tax-deferred accounts.
Remember, planning for retirement is not a one size fits all solution. Make sure to seek good unbiased advice based on your unique circumstances, goals, and dreams.
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Learn More About IFW’s Retirement Planning Education Services
The IFW provides valuable financial education, resources, and services that help people live their best life.
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Rees Bridges brings a unique value to the IFW as both a highly accomplished creative professional and a successful financial services executive to serve in his role as Senior VP, Marketing & Communications.
Over the last decade Rees has served as the lead marketing & communications professional for a Fortune 500 Financial Services firm. He oversaw all advisor marketing strategies, client communications, and the entire firms branding and marketing initiatives.
Rees continues to pursue his passions as a creative professional & musician for over 30 years, with an impressive profile and reputation as a designer, performer, teacher, and studio musician. Here is a little secret: He serves in the role as an international clinician for Mapex drums, Paiste Cymbals and held the record for world’s fastest drummer between 2006 and 2007.
Rees grew up in London, England and currently resides in Miami, Florida. When not at work, he enjoys spending time with family and friends, traveling, and indulging in his passions for music and creative pursuits.
