Settling Into Retirement
The retirement parties and congratulations are over, and you’re beginning to settle into the daily routine of retirement. Here’s a list of our top considerations as you think about your wealth and finances.
Think about how you've prepared emotionally
Question to Ponder: What are some of the things, hopes, or dreams you had to put on the back burner when you were younger?
Think about retirement in terms of POSSIBILITIES!
We encourage you to think about your retirement income and portfolio as spending bumpers—if you live on $10k/month today, how much more could your wealth support? Knowing that spending range is helpful in those years that you may want to spend or give more.
Review your medicare supplement policies every year
And what about Medicare? It can be a daunting maze to navigate and learn on your own. Your #1 priority should be to ensure your health coverage lines up with your health care usage. Working with a qualified Medicare professional to help review your supplement, and prescription drug policies could save you thousands per year!
Don't forget about your taxes!
We recommend thinking about ways you could reduce your overall tax liability over the long term. Some strategies that we’ve found beneficial include proper retirement income structuring, Roth conversions, and capital gain or loss harvesting.
Don’t let your age solely determine your stock allocation
History tells us that having anywhere from 5-10 years of your portfolio spending allocated towards bonds or cash can help you endure the market’s ups and downs.
Jacobson & Schmitt Advisors, LLC (“JSA”) is a registered investment advisor. Advisory services are only offered to clients or prospective clients where JSA and its representatives are properly licensed and or exempt from licensure. The information provided is for educational and informational purposes only and does not constitute investment advice, and it should be be relied upon as such. It should not be considered a solicitation to buy or an offer to sell a security.