Jun 142016
 

I came across an article with this title a few weeks ago [it might have been from Allianz], which made some interesting comments about the current state of planning for pre-retirees.

  • Health and Wealth go together!

Basically it is hard to understate the impact these two factors will have on your retirement.

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It also brought up the idea of the Four C’s necessary for a successful retirement:

  1. Clarity
  2. Comfort
  3. Cost
  4. Certainty

The last 5-10 years before retirement age area critical transition phase!

It is the time to consider professional help as there are a number of issues to consider. These may be more complex than any decisions, many of us have made before. All of which may have a significant impact on our retirement years.

For example, there are potentially 728 Social Security claiming options to consider depending on the age of the partners. This is in addition to the minus 25% to the plus 32% range an individual will have versus the full retirement benefit amount.

During those last 5-10 years, it’s time to identify your retirement income sources and the goals for your spending plan.

This involves making assumptions about your life expectancy, how much will you need to fund your spending plan, how you can reasonably assure yourself you won’t outlive your assets, what’s the right asset allocation going forward, what will your likely healthcare costs turn out to be, how will you handle your potential long-term care expenses, etc., etc.

More to come later on the Four C’s!

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