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Retirement Transition Checklist

Review the following steps to help identify things you may need to do before transitioning to retirement.

1. I know approximately how much annual income I will need in retirement.

2. I have consolidated similar financial accounts, such as 401(k) plans.

3. I understand my Social Security benefits and have a clear plan for when to begin receiving payments.

4. I understand how much of my annual retirement income will come from my retirement accounts and how much will come from other sources.

5. I have a detailed list of the expenses I expect to incur in retirement.

6. I have gotten updated quotes on all necessary insurance policies, including health insurance.

7. I know where my health insurance will come from once I am retired.

8. I understand how my health insurance works with Medicare.

9. I have a good understanding of whether or not I may need long-term care insurance.

10. I talk regularly with my spouse/partner about our goals and interests for retirement.

11. My spouse/partner and I share similar ideas about where we will live in retirement.

12. I have a plan for how to spend my weekdays when I am no longer working full-time.

13. I have regular conversations with my tax and financial advisors about my retirement income needs.

If you are feeling overwhelmed and would like assistance, please talk to an expert.