Photo Credit Guilherme Stecanella
e’re in Valentines month and I hope
everyone is getting and giving the
very best treats that you could ask
for. My treat to you is part one of a two-month “empowerment” tool for retirement series. February will focus on the first 6 tools of my 12 Steps to Take Before Retirement.
Now I realize many people are thinking I’m not ready for or worried about retirement right now. I get it, but the number one thing you can count on is that you will get older and starting to plan your retirement is never too soon. These “Empowerment Tools” will help you along the way.
W
1.
While you have spent years together, sometimes couples can be surprised at how and what their significant other envisions for retirement. At times, their visions might be conflicting, albeit unintentionally. Does your spouse or partner plan to retire sooner than you do? Later than you? What are their working plans in post-retirement?
This could be one of the most important steps to make before you depart the workplace. Set your goals and get on the same page with your spouse or partner. You want a working game-plan that meets both of your goals and has agreement on core milestones that matter to you both.
A big part of this process is finding agreement on major financial issues such as saving and spending habits, where you are going to live, and when exactly you are going to stop working.
If those conversations are difficult to begin, a financial advisor can be an effective mediator and guide in helping you navigate these important discussions together.
2. Take a Health Status Check
Depending on what your health is now and will be in the future then your goals may change or be moved around. It’s prudent to evaluate your health now – and project what it might be in the future.
An effective starting point is to try to estimate your longevity along with the state of your health in your future years. If you have current health problems, talk with your doctor about the possible ramifications that this may have in the future.
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hews
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BY RICHARD CHEW
It’s Never Too Early to Plan for Your Future