When the time has come to starting preparing to leave the workforce, getting everything in order is a good idea. There are key steps starting a year out that one should take before retiring.
- 12 months out
- Cut back on stock investments. A downward trend in the market could affect years of saving.
- Create a retirement budget. There are multiple calculators to help figure this out based on expenses and one’s nest egg.
- Six months:
- Figure out health care finances. If a Health Savings Account hasn’t already been set up, this is the time to discover what coverage option will work best.
- Three months:
- Begin the rollover process. The professionals at Mountain West IRA can help with this.
- Plan ahead. Start thinking of how to fill time after retiring. Research volunteer options in the area, discover a new hobby or look into starting a new business.
Planning for retirement can be overwhelming and stressful. Mountain West IRA can help take the stress out of retirement planning. They have multiple plans to fit everyone’s needs.