Investments

Many Baby Boomer clients anticipate that their golden years will be much more than just retirement. Instead, they view it as an opportunity to reinvent themselves and redefine their futures.

As you get closer to retiring and build your nest egg, we'll need to ensure the amount you're tucking away will support the lifestyle you're dreaming of. From there, you'll need to make some advantageous decisions so that these pre-retiree years can help your financial independence later. As we continue to work together, here are some things to consider:

Maximized savings - This is the time to evaluate whether you're on track to having enough. Making catch-up retirement account contributions, reallocating your assets for a less risky portfolio, increasing HSA contributions and downsizing or rightsizing your home are actions you can put into motion now for a big financial impact later.

Encore career - Will you want or need some type of supplemental income during retirement? You may not need to work, but consider the health and psychological benefits that come from staying active, connected and creative. Another positive is the financial freedom extra cash provides for covering rising healthcare costs or being able to delay taking your social security benefits.

Estate planning - There's never a bad time to make sure your estate planning documents are up to date. Reviewing them every three to five years and after big life changes is key to keeping control over who your retirement funds will go to if you're not around, and who can make financial decisions on your behalf.

Healthcare needs - How seriously you take your health and wellness now directly affects your overall physical, emotional and financial wellbeing down the road. It also plays a major role in your potential need for supplemental health insurance and long-term care insurance.

While checking off all these boxes may seem like a lot of work, don't be overwhelmed. Carving out the time to home in on each of these decisions is entirely possible if you start now, and it can help avoid stress later. We're always happy to help and give you more specifics on tackling each of these topics, so let us know if you have questions.