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5 Things You Need to Do Before Retirement

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    I wanted to get something basic up here since we tend to dive into niche topics. Perhaps some basic information could be useful, even if it's used as a check list. I find that when I'm focusing on very specific things, the basic stuff falls through the cracks sometimes. For those looking to retire, here are 5 basic things you shouldn't forget before you retire.

    1. Assess your personal savings

    2. Map out a retirement budget

    3. Read up on healthcare costs

    4. Develop a strategy for claiming Social Security

    5. Figure out what you'll do with your time

    Pretty simple, right? It's mostly financial, but that is the most crucial, and makes it easier for the rest to follow. I think the most important one is number four. There are so many guidelines and options when it comes to Social Security, depending on whether or not you are married, a widow/widower, and if you will continue to work part time or start your own business. I would say that one should almost be number 1. I think the list follows more like steps instead of rated by priority. What are some others that should have been included? Would number three be a higher priority as well?

  • Are you sure you want to delete this post?

    These all seem really straight forward on the face of it and are great things to take into account when determining a retirement strategy.

    I agree with you that developing a strategy for claiming Social Security is crucial. Unfortunately for millions of seniors, it's the only retirement strategy they have. That number is only going to grow as our population ages as people who never had a pension begin to enter the system.

    That worries me more than anything else.