If you are already working towards enhancing your retirement – good for you! But as retirement approaches, there may be some other things to consider doing to make sure you are adequately prepared for a comfortable living when that time arrives.
- Increase your paycheck contributions – Give your retirement a raise when you get a raise in your paycheck. Expenses in the U.S. will continue to rise, offset those increases by saving more tax free now.
- Consider working longer than you originally planned – Just a couple of years added to your investments may benefit the bottom line with compounding interest.
- Take care of your physical health – Medical expenses will continue to rise, so take care of your health now to decrease potential expenses. Consider opening a Health Savings Account.
- Pay off your mortgage and other debts – This will decrease your stress level at retirement by not having those expenses every month and give you added money for spending.
- Reduce your investment risks as you get closer to retirement – Talk to us. We can arrange for you to meet with one of our Retirement Specialists who can look at your risk tolerance and help develop a plan for reducing your exposure to market risk.
Assess your other sources of retirement income so you know what to anticipate from them at retirement – Whether you are just beginning, close to retirement, or somewhere in between, we are here to help you at whatever phase of retirement planning you are in – just ask.
Stop in or call us to set up a time to meet.