Retiring within the next 2-5 years

Now is the time to get serious about your retirement preparations. We’ll start by taking stock of your assets and liabilities, developing your goals and determining if you’re on track to retire your way. Our process involves:

Creating a net worth statement to discover exactly where you are today.
Determining how much will you need to cover living expenses.
Identifying lifestyle goals such as car purchases, home repairs, travel and celebrations that need to be part of your plan.
Establishing the different income sources you will have in retirement.
Deciding if you’ll stay in your home or relocate.

Developing your plan now allows you to make mid-course corrections if you’re not on track. A key goal at this stage should be paying down debt and maximizing your savings in pre-tax, Roth accounts and HSA’s to improve your “balance sheet”. If your situation dictates, you might also consider transitioning to a more conservative investment strategy to protect against major market pullbacks just prior to retirement.

You still have a few years to fine tune your strategy but at this point you should have the basic outline of you plan in place, including:

When you and your spouse plan to stop working.
Whether your plan includes doing any part time work after retirement.
The framework of your retirement income strategy – how will you generate enough income to cover living expenses and where will it come from?
An understand of your healthcare coverage options if you plan to retire before 65.