Dec 8, 2017
Learn the eight essential questions that you must answer before
you can retire. These are the questions that every person or couple
should answer before retiring. If you are already retired, they are
even more critical.
Main Questions Asked:
- What questions do you need to think about and answer before
- If you are already retired, what questions are even more
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
- 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
- How and when you claim your benefits impacts how much your
recieve 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
- 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
- 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.
Links To Resources Mentioned
Money Map Retirement Review
Thank you for listening!