Are you financially ready for retirement?

Quick Nine-Point Checklist for Your 50s and 60s

1. Retirement Income Plan Framework:

Do you have multiple strategies to turn your savings into reliable – all weather income that lasts 25 to 30 years with a sustainable withdrawal rate?

2. Social Security Optimization:

Are you confident you’re claiming benefits at the most strategic time? Starting too early can cost you thousands in lost income while bridging your income sources.

3. Tax-Efficient Withdrawals:

Are you minimizing taxes when drawing from IRAs, Roths, using Roth conversions and taxable accounts and locating your assets accordingly?

4. Long-Term Care Planning:

Do you have a strategy in place in case you or your spouse need care later in life? Home healthcare eight hours a day can cost over $6,000 per month today.^[1]

5. Investment Allocation Check:

Are you taking advantage of the much stronger private equity and private credit now available to individual investors to help reduce downside, increase income and increase long-term growth? Is your portfolio matched up with the life stage you are in? 

6. Pillars of Retirement Income and Filling Income Gaps:

Is your retirement income built on a solid foundation – Social Security, investments, annuities and real assets including infrastructure (hydroelectric, solar, cell towers, shipping)?

7. Estate and Legacy Plan:

Is your will, power of attorney and beneficiary account list up-to-date and tax-efficient, leveraging life insurance and TODs for heirs and charities?

8. Inflation Protection:

Can your plan handle 3 to 4% inflation without eroding your purchasing power, with Healthcare rising at over 5%?

9. Contingency Plan:

Do you have a plan if one spouse passes or becomes unable to manage finances?

^[1] Source: Genworth, 2024

Investing involves risk and you may incur a profit or loss regardless of strategy selected, including diversification and asset allocation.