Are you looking for retirement planning Wyckoff NJ? Many folks become more aware of the need to chart out a retirement plan as their career progresses. Indeed, the closer you are to retirement, the more effective planning you need. Those last 5 years before retirement are an ideal time for a pre-retirement checkup.
Are You A Pre-Retiree?
As your career trajectory enter its later phases, you will find yourself entering into the pre-retiree stage. It’s that period of time, generally about 1 to 5 years in length, between the time you decide you want to retire and the date you actually do so. Use this time to fine-tune your thinking.
Is Your Personal Financial Situation in Order?
During the preretirement phase, you need to get your financial house in order. Here are a few questions to consider:
- Do you know how much you have saved in both your retirement plans and your non-retirement accounts?
- Do you own your house free-and-clear, or are you still paying down a mortgage?
- Where do you want to live in retirement?
- If you have children, are they on their own or are you still supporting them financially?
- Have you budgeted out your expected retirement expenses?
- Have you separated your retirement needs form your retirement wants?
Strive to get yourself in the “Pre-retirement sweet spot”. That is the place where you have a sufficient combination of personal assets, pensions, and social security benefits that you can live well, while at the same time reducing your debt load to little or none. If you need help, consider working with a qualified professional.
Find Yourself in the Retirement Sweet Spot
Now is the time to work with a trusted professional with a proven track record to go through your pre-retirement checkup. Remember, you’ll want to get yourself into that financial sweet spot where you can have the retirement you want.