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  • Wen Capital Advisory Group

The Pre-Retirement Checklist

Getting ready for retirement? Before you can cross that bridge, you’ll need to cross some important items off your to-do list. This handy checklist of ten crucial steps can help you visualize how far you’ve come.



To measure your progress toward retirement preparation, check off your “Done” items from the list below. RETIREMENT BUDGET

Understand what your income will be, and how you can confidently spend the money you have accumulated for retirement.


EMERGENCY SAVINGS

Prepare for emergencies by saving at least 3 months’ living expenses, and have that money easily available to you.


TAX STRATEGY

Have a sound tax strategy to guide you through the process of spending money from both taxable and tax-deferred accounts.


LIFESTYLE & LOCATION

Consider where you’ll live, both short- and long-term. Have a plan for funding a move and understand the timing involved.


401 K STRATEGY

Have a strategy for your 401(k) plan and determine the best time for you to access the money, based on your goals.1


BUCKET LIST

Write down your personal goals for your retirement years. Explore your dreams, priorities and values.


EXTENDED CARE

Make arrangements in the event that you or a loved one encounters a health issue requiring full-time care.


ESTATE STRATEGY

Develop an estate approach that includes how you want your assets to be allocated, and who will handle your estate.


HEALTH INSURANCE

Understand your options with Medicare and define a strategy for covering health care expenses for the long haul.


SOCIAL SECURITY STRATEGY

Have a sound tax strategy to guide you through the process of spending money from both taxable and tax-deferred accounts.


NOT QUITE READY?

If you’re not as prepared for retirement as you’d like to be, just reach out. Together, we can fine-tune these strategies so you can finish your checklist and get started on that bucket list.


CITATION: 1. Distributions from 401(k) plans and most other employer-sponsored retirement plans are taxed as ordinary income and, if taken before age 59½, may be subject to a 10% federal income tax penalty. Generally, once you reach age 73, you must begin taking required minimum distributions.


This material does not necessarily represent the views of the presenting party, nor their affiliates. All information is believed to be from reliable sources; however we make no representation as to its completeness or accuracy. Please note - investing involves risk, and past performance is no guarantee of future results. The publisher is not engaged in rendering legal, accounting or other professional services. If assistance is needed, the reader is advised to engage the services of a competent professional. This information should not be construed as investment, tax or legal advice and may not be relied on for the purpose of avoiding any Federal tax penalty. This is neither a solicitation nor recommendation to purchase or sell any investment or insurance product or service, and should not be relied upon as such. All indices are unmanaged and are not illustrative of any particular investment.


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