Do you know when you want to retire and whether or not you are able to do so? Will your money last through retirement?
What are your plans if you have to care for aging or sick relatives? How will you evaluate your options for short-term and long-term care facilities and Medicare? How will you cope with Alzheimer’s disease? What about when a loved one dies?
Have you made a list of the expenses that you plan to have during retirement?
Have you talked with your financial advisor about how much income you will need during retirement and where it will come from?
Have you reviewed the details of your insurance policies (including health insurance)?
Do you know where your health insurance will come from once you are retired? Do you understand Medicare and how it works with your health insurance?
Do you have a good sense as to how you will spend your weekdays when you are not working full time?
Do you understand your Social Security benefits and have a plan for when you should begin taking your benefits?
Have you considered your other financial accounts such as 401(k) plans and IRAs and what to do with them (i.e. rollover). What should you do with your employer retirement plan?How will you manage all your retirement accounts, and have you discussed these accounts with your financial representative?
Do you know what retirement investment options are available?
Do you know how much of your retirement income will come from retirement accounts (i.e. 401(k), IRA, and pension)?
How will you protect your estate? Will your family be secure if something happens to you? How will you create a legacy for your children? How can you provide for your favorite charity when you die? What will your survivors need to know?
Do you have long-term care insurance? If you do not have insurance, do you have the resources to cover the cost of long-term care?
Do you regularly discuss retirement goals and interests with your spouse?
Do your spouse and you have similar ideas about where you would like to live during retirement?