In order to plan for a happy, healthy, financially secure retirement, you will need to ask--and find the answers to--the following questions:
- How much retirement savings do I need to generate a sufficient retirement income to last the rest of my life? Answering this will help answer the question "When can I retire?"
- What are the best strategies for drawing down retirement assets to generate a lifetime retirement income that increases for inflation?
- If I participate in a defined benefit plan, what are the most effective payout options? If I'm offered a lump sum in lieu of a monthly pension, what are the advantages and disadvantages?
- When should I draw Social Security benefits?
- How long might I live after retiring, given my lifestyle and family history? This will help answer the above four questions.
- How can I protect against the threat of large bills for medical and nursing home expenses?
- What are strategies for balancing income and expenses in my retirement years?
- What is the role of part-time or full-time work in my retirement years?
- How can I work most effectively with financial advisors, brokers, and salespeople?
- What are the most important considerations for selecting financial products and services?