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1. I know the minimum monthly income I will require this retirement year (or my first retirement year).
2. I know what my total federal and state income tax rate will be in retirement (or my first retirement year).
3. I know the minim amount of emergency saving I should maintain through my retirement.
4. I have calculated the amount of monthly net retirement income I will need in 10 years and 20 years, adjusting for 3% annual inflation.
5. I know when I can retire and still have sufficient income and assets for the remainder of my life.
6. In order to maximize my lifelong Social Security income, I know when I should begin benefits.
7. I understand how the Social Security spousal benefit could potentially increase my household’s income.
8. I know the best strategies for converting retirement savings into lifelong income.
9. Based on my age and risk tolerance, I know that my portfolio should be, % conservative, % aggressive.
10. I know the amount of my retirement savings held in long-term bonds and bond mutual funds, and the reason these may soon experience a significant loss in value.
11. I understand how alternative investments and linked accounts may help me reduce investment risk.
12. I know my best strategy for maximizing pension benefits for my household.
13. I take active steps to protect my identity and have a plan in place to respond should a theft occur.
14. I know what my monthly premiums for Medicare Part B will be and where they will be deducted.
15. I know the annual cost of long-term care in my area and have a plan in place to over costs if needed.
16. In order to maintain my health, I exercise a minimum of 30 minutes, 4 or more times a week.
17. I mostly practice a healthy diet, low in processed foods and high in lean protein, veggies and fruit.
18. I know the legal instrument that I could use to limit my long-term care expenses to a max of 60 months.
19. Given my financial and family situation, I know whether a will or a trust would best serve my estate.
20. I have my financial records organized so that, should I become ill or die, my heir(s) can smoothly carry on.
21. I know when I must begin taking Required Minimum Distributions (RMD) from my qualified retirement accounts and the amount of my penalty for missing a withdrawal.
22. I currently contribute to a monthly structured giving plan supporting missions and /or charities.
23. I have a formal written retirement income plan and am following it to success.
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I know what my total federal and state income tax rate will be in retirement (or
my first retirement year). |
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I know the minim amount of emergency saving I should maintain through my
retirement. |
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I have calculated the amount of monthly net retirement income I will need in 10
years and 20 years, adjusting for 3% annual inflation. |
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I know when I can retire and still have sufficient income and assets for the
remainder of my life. |
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In order to maximize my lifelong Social Security income, I know when I should
begin benefits. |
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|
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I understand how the Social Security spousal benefit could potentially increase
my household’s income. |
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|
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|
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I know the best strategies for converting retirement savings into lifelong
income. |
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|
|
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|
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Based on my age and risk tolerance, I know that my portfolio should be, %
conservative, % aggressive. |
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|
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I know the amount of my retirement savings held in long-term bonds and bond
mutual funds, and the reason these may soon experience a significant loss in
value. |
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