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Closing In On Retirement? Make Sure You Are Prepared

Getting close to retirement can be an exciting as well as a stressful time in your life. Before you can retire, you need to make sure you that have all your bases covered. The 3 topics you need to have covered include Social Security Benefits, Health Insurance, and a Retirement Account Review.

Social Security Benefits

When it comes to retirement, social security is more than likely going to play a roll. You need to make sure you understand how social security works. At what age do you plan on retiring and collecting social security benefits? Because, the age you start receiving social security benefits will determine the amount that you will be receiving. If you're retiring before full retirement age your monthly amount will be lowered, and if you retire later than full retirement age your monthly amount can be larger.

Health Insurance

Another important factor to consider for retirement is your health insurance. You are able to sign up for Medicare once you have reached age 65, but what if you retire before age 65? If you retire before age 65 then you are on your own for Health Insurance which can get expensive. You need to know how you will be paying for health insurance, whether it be through Medicare, an employer, or signing up for it on your own.

Retirement Account Review

One of the most important factors you need to think about when it comes to your retirement is your retirement accounts. When was the last time you had a review done on your accounts? You should be checking to make sure that you have the most efficient money management. You should be able to call up your financial advisor and review your accounts to make sure you are on track with where you wanted to be when you retired. 

If you are getting close to retirement and want assistance with your retirement preparation, reach out to Peter O'Brien today. Peter believes you need to have a personal relationship with a financial advisor instead of just calling a 1-800 number. So if you want someone you can reach at any time about your retirement or retirement planning, contact Peter today.


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