Retirement Checklist

Helping you understand how and when to...

Protect your retirement savings.

• Decrease your amount of debt.
• Create an emergency cash fund.
• Secure insurance coverage.

Develop an income plan for your retirement.

• Estimate your income and expenses to make sure your money lasts as long as you need it to.
• Set aside cash to cover spending needs for six months to one year in investment such as a money market, certificate of deposit and other savings. The key is to have access to your money with out taking large penalties. More...

Apply for Medicare.

• Based on your age and your Social Security status, your Medicare application timeline may vary. If you apply late, you may not receive benefits when you need them or may have to pay a higher premium. It is a good idea to make note of these dates on your calendar.

Apply for my Social Security benefits.

• Three months prior to the month of your 65th birthday (or three months prior to when you wish to start collecting benefits). It is a good idea to make note of these dates on your calendar.

Select distribution options and benefits for your 401(l) and pension plans.

• Make note of the steps and options that apply to your retirement plan funds and contact your employer for correct documentation.

Review your wills, trusts, powers of attorney, and beneficiaries.

• Your retirement savings accounts normally pass directly to the beneficiaries you have specified for each retirement account so you will want to keep these designations updated.