Hi. I'm Bob Rall with Rall Capital Management. Thanks for visiting our page. You've worked hard all your life, and now you're starting to think about retirement. At Rall Capital, we believe there are two things that you absolutely must do before you retire.
First, you need to have a good conversation with your spouse or partner about what that life in retirement is going to look like. Things like, where are you going to live? Are you going to stay in the family home, or maybe downsize, or maybe move to another state to be closer to the grandkids?
What about your lifestyle? Are you looking to be active in retirement or maybe enjoy more of a relaxed pace? And what about all those newfound hours that you're going to have in your day? How are you going to spend your time?
Have a discussion about that, and make sure you're on the same page.
Second, we think you should review your financial plan to make sure that you're really ready to retire. Are there catch-up contributions that you might be able to make to your retirement accounts? What about health insurance? Have you thought about whether it's going to be Medicare or private health insurance? Have you considered long-term-care insurance?
Finally, you need to make sure that your cash flow plan is in place. If you're lucky enough to have a pension, make sure you understand your payout options. Have you developed a strategy for maximizing your Social Security benefits? What other resources do you have that might provide some cash flow?
Make sure you have a plan. Your golden years are in front of you. Make them the best that they can be. At Rall Capital, we're here to help, so click on the More Info button. Thanks for watching.