Main Questions Asked:

• What questions do you need to think about and answer before retiring?
• If you are already retired, what questions are even more critical?

Key Lessons Learned:

8 Questions to Answer Before You Retire

• How are you going to generate income? Successful retirements are not about the pile of money you have saved, it’s about your ability to generate income during retirement.
• How are you going to pay for healthcare and Long-Term Care? 70% of people who live to age 65 will require some type of Long-Term Care before they die.
• How can you pay fewer taxes in retirement? Once you retire, you have more control over the taxes you pay. This is one of the overlooked areas of investing, and consulting with an advisor is critical.
• How to get the most out of your social security benefits? The average benefit is about $400,000. That is a significant asset.
• How and when you claim your benefits impacts how much you receive and your tax liability. There is also your spouse’s benefits to consider.
• What is your appetite for risk, and how well does your portfolio reflect that? Many people are taking too much risk. Asset allocation and diversification are key components to a retirement plan.
• How to stay one step ahead of inflation? 1% to 3% may not seem like much, but if you add it up over 20 or 30 years, you may need double or triple your savings and income. Ignoring inflation could mean the difference between enjoying your dreams and barely getting by.
• How are you going to minimize investment fees and expenses? People often have no idea what their investment fees are or what amount they are actually paying. It’s important to understand and minimize the fees and get value for what you do pay for.
• What is the most cost-efficient way to pass your estate to the people that you love? It’s important to know how to pass money on in a tax-efficient way, and in a way that is protected from creditors, future marriages, and other things that may come up.