Preparing for Retirement

February 25, 2016

Planner: Michael

Problem: She was closing in on retirement and wanted to know how to best prepare so that she was able to live comfortably.

Suggested Action Steps: We discussed maxing out her 401k, analyzing her spending to see where the money is going, and getting an estate plan prepared. Then we visualized what retirement would look like and put together a dreams list.

Results: She increased her 401k contribution to the maximum, including the catch-up contributions.  She used the legal benefits offered as a voluntary benefit to have an estate plan prepared.  And, she started to track her expenses closely to see what could be reduced or eliminated in retirement.  She admitted there was a lot of “fluff” in her budget that would go away now that it was time to get serious.

Testimonial: “First time living with an actual budget, I am amazed at money spent unwisely or on items not needed.” – Anonymous