Pre-Retirement Checklist: What to Do in the Year Before You Retire

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Pre-Retirement Checklist: What to Do in the Year Before You Retire

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A 64-year-old listener planning to retire in about a year asked Ryan for a practical checklist. Ryan's answer covers eight areas: gather all your data first, including pensions from multiple states and any old retirement accounts; get clear on your spending and goals; build your income plan; think through the tax and Social Security interplay; understand Medicare, IRMAA, and healthcare costs; review your insurance; make sure your estate documents are current; and keep enough cash on hand for the transition.

Ryan is honest that 12 months goes fast, especially when tracking down old pension balances across multiple states and plan administrators. The consistent message throughout is that retirement is a beginning you will continue to manage, not a finish line. Talk to your financial advisor, CPA, and an estate attorney to work through the pieces most specific to your situation.

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