The average American lifespan is about 79 years.
As people enter the last couple of decades of their lives, they’re eager to settle into a good retirement. The unfortunate reality is not many people know how to plan for retirement properly.
It’s not as simple as just quitting your job and grabbing your fishing poles. There’s a lot of financial sorting and mental preparation. If you’re unsure of how to plan for your retirement, we are here to help.
Below is a retirement planning checklist. Keep reading to make sure you’re good to go.
Crunch the Numbers
One of the first steps to retiring is crunching some numbers and creating some spreadsheets. You’ll need to know where you financially stand.
Create a list of all of your debts, and jot down all of your sources of income. You’ll want to include all of your assets, such as your estate and vehicles.
As you punch in all your numbers, keep in mind this will be a constantly edited worksheet. You’ll make adjustments to your income, add some more bills into your debt, and maybe even add an asset or two.
If you need some extra help with your estate, talk to an estate planning attorney.
Set a Determined, Positive Mindset
A big change can be scary and exciting at the same time. Set some goals for yourself as you enter into retirement.
You’ll want to start by setting financial goals. How are you saving for retirement? What debt are you going to pay off?
Create steps you’ll take to start shaking off financial burdens. As you pay things off, you’ll start to feel a weight leave your chest.
Next, you’ll want to focus on the positives of retirement. Give yourself things to look forward to. These things can include going on vacation, adopting a dog, or investing more into your art.
Retirement isn’t the end of life. It can be an exciting beginning!
Invest in a Financial Advisor
One of the best investments anyone could make is investing in a financial advisor. An advisor will be able to help you create financial goals and plans.
When searching for an advisor, find someone with plenty of experience. Chat with them about their different payment plans and how often they’ll be available to you. Ask them if they have any experience in retirement planning.
If you don’t know where to start, talk to other friends and family members that have retired. They can offer you some referrals.
Set Yourself Up for Success with a Retirement Planning Checklist
Retirement, while exciting, also comes with a lot of responsibilities. Set yourself up for success by using the quick retirement planning checklist above.
Start by determining your income and listing all of your debts. You’ll then want to create goals and strategies to beat that debt. For extra guidance and support, invest in a financial advisor.
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