Stages Leading Up To Retirement

Today’s Prep:

Life isn’t just “before retirement” and “after retirement” when it comes to your financial plan. There are several stages leading up to and through retirement. Which stage are you in?

(Click the featured times below to jump forward in the episode)


Equipping Points:

As you near retirement, you may be wondering what you need to do. Depending on what stage you are in, there are different strategies you should implement. On this episode of Retirement Ready, Eric will walk you through the stages leading up to retirement from when you are in your early 50s to when you

When you’re about 15 years out, what do you do with your accounts? Do you know what you want retirement to look like? The difference between being in your forties and your fifties may mean you start to really get serious about planning for retirement (including making some catch-up contributions).

As you get closer to retirement age, you may wonder about retiring early and what’s possible. What is your vision? Does that mean doing a different job with your newfound freedom? Or do you want to travel? What kind of risk should you have in your investments?

The older that you get, you’ll want to have more accurate estimates on your income streams. From Social Security to pensions to other forms of retirement income. Setting a date for retirement may help you plan accordingly.

When it finally comes time, do you know what’s most important to pay attention to? You’ll have more control over your taxes than you ever had when you were working. So, deciding which accounts to pull from at what time is key to your retirement strategy. Retirement planning doesn’t end the day you retire. Remember to continuously check back to adjust the plan according to your needs and goals.

Listen to the full episode or click on the timestamps below to hear more about the stages leading up to retirement.

[0:47] – What are the different stages leading up to retirement?

[1:07] – What should people think about when 15 years from retirement?

[3:41] – Around 55 years old, where should people focus? 

[6:33] – Five years from retirement, what is important to consider?

[9:54] – On the day of retirement, what’s the most essential to know?

[12:47] – Once you retire, what kind of financial planning do you do?



Related Resources:

Reasons Why People Don’t Retire

Retirement Savings Options: IRA Contributions & Roth Conversions

Facing The Final Decade Before Retirement

More From Eric:

The host: Eric Peterson - Contact - Call: (515) 226-1500

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