1. Figure out how much money you will need to support the retirement lifestyle you want. Are you financially ready for retirement? Our advisors can help you determine how much you need in savings in order to have enough retirement income to sustain your standard of living.
2. Reduce the amount of risk in your investments. We believe that once you reach 50, it’s time to start playing defense with your investments. Diversification can help, especially if you have a large percentage of your money in any one stock (including your employers’). We also believe you should adopt an Invest and Protect strategy that can help you withstand bear markets.
3. Pay off your debt. We believe that when you retire, your debt should be retired, too. Being debt-free can make it much easier to get through tough times.
4. Decide where you will live. Do you want to downsize? Move out of the city? Live closer to family? Consider any move carefully—you may spend the rest of your life in your new hometown.
5. Review all your potential financial and healthcare benefits. We can help you determine what’s available to you through your work, Social Security, and Medicare. Then we’ll help you create a plan that addresses when and how to take benefits to maximize every income-generating opportunity you can put to use in the five years before you retire.