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Retirement Checklist

15 Things You Must Do to Financially Prepare for Retirement


Work your way through this retirement checklist by using the links next to each check box to find additional information you will need to complete each item.

Build Up Your Emergency Fund Savings Account

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Do you have a minimum of three months worth of living expenses saved in a checking/savings account? Sometimes there can be delays in the start date of pensions or Social Security. It is important to have savings you can rely on if you experience delays.

Make a Retirement Budget

Have you spent time analyzing your retirement expenses? Working through a before and after retirement budget is important. You must come up with an accurate estimate of what you spend now and what will change after retirement.

Determine Your Health Insurance Options

Have you looked at how you will cover medical expenses and health insurance and included these items in your budget? Health insurance coverage can be expensive if you plan on retiring early.

Learn How Retirement Income is Taxed

Do you know how your various sources of retirement income will be taxed? Upcoming retirees who don't realize that some of their income may need to go toward taxes are in for an unpleasant surprise.

Make a Retirement Income Timeline

Have you made a retirement income timeline to show you when different sources of income will begin? This step can be matched up against potential retirement expenses to help you manage cash flow.

Run Scenarios Using Online Retirement Calculators

Have you tried putting your numbers into an online retirement calculator? This helps you see how long your money will last depending on decisions like retirement date, rate of return and the rate of inflation.

Use a Social Security Calculator Before You Claim Benefits

Have you used a Social Security calculator, or worked with a financial advisor who can give advice on your Social Security benefits, to show you when it would be most advantageous for you and your spouse to each begin your Social Security benefits?

Read Up on the Best Retirement Investments

Have you studied various types of retirement investment options to learn how they can be used to deliver consistent retirement income to you? Each investment choice will have it's own pros and cons. Best to learn how each tool works before you decide which is best for you.

Make an Investment Plan

Have you created an investment plan so you have a disciplined approach to investing throughout retirement? An investment plan helps you understand the job you need your money to do for you.

Read At Least One Book on Retirement Planning

Have you read at least one book on retirement planning? Your money needs to provide for you for a long time. Learn as much as you can.
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