Five things Before Retiring

Five things Before Retiring gets to the heart of where you need to be when you retire. Are you joining the millions who are retiring early or area you considering it? I represent Main Line PA retirees and have lots of resources to help you make these decisions. I want to go over the five things you really have to do and take into account before retiring. First, create your retirement budget and income plan. Are you receiving social security, do you rely on stock dividends? Calculate short and long term budgets with emergency funds. Placing emergency funds in money market accounts is a smart option that bears interest as well. Make sure you include guaranteed income sources in addition to assets that can help fund retirement, including real estate. Second, look at benefit end dates. Some benefits stop the day you stop work, so it is imperative to have dental work, vision checked etc prior to the end dates and have a comprehensive insurance plan following. That brings us to the third thing and that is planning your retirement insurance. There are so many options in and outside of Medicare, educate yourself before making a determination. Great insurance can save much more than lives, it can save lots of money and hassle as well. Fourth, Check your HSA, health savings account, and FSA, flexible spending account. Fifth, Decide what to do with your retirement accounts whether you want to roll savings from a 401 K to an IRA, which many people do to simplify their finances. Once you have these financial and health considerations taken care of, consider where you are going to live. Downsizing can be a great option, whether that means an apartment you always wanted with less maintenance closer to your children, or a 55+ community with incredible activities and social life. I am here to help you plan and have amazing resources at the link below. Let’s take this next step together. Kimmy Rolph sells The Main Line and local areas.

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