Dec 13, 2019
Looking to get a leg up on your retirement planning but not so sure where to start? We’ve come up with a six-step pre-retirement checklist that will help you target areas that need to be evaluated. Getting a grasp on these items will allow you to build a plan that meets your income and expenses later in life.
Show Notes and Additional Resources: https://johnsonbrunetti.com/?p=4522
0:35 – What’s coming up on today’s show.
1:22 – What do your clients think about when they hear ‘market correction’?
2:00 – Here’s how we officially classify a correction.
2:53 – An actual bear market is drops of 20% or more.
3:31 – Market corrections can actually be a good thing.
4:26 – The smarter you are, the more dangerous you are to your investment success.
5:27 – Let’s run through the pre-retirement checklist you need to run through.
6:24 – First item: Do I know how much I need?
8:02 – Second item: Have I identified all my sources of income?
9:13 – Third item: Have I thought about longevity and will I outlive my money?
10:52 – Fourth item: Am I prepared to handle market volatility?
12:35 – Fifth item: Do I have a plan to address long-term care costs?
14:58 – Last item: Do you have your legacy plan in place?
17:09 – Email question: My employer just announced they will no longer fund our pension plan and we have the option to keep it in place for income down the road or taking the current amount as a lump sum. Which is better?