Restructure your assets
Restructuring assets and managing the effects of inflation are your main goals after retirement. Here's why:
- Restructuring your assets — for example, rolling your assets over to an IRA, receiving periodic payments or getting an annuity — can help ensure retirement income for your lifetime.
- Managing the effects of inflation helps maintain your purchasing power — the return on your investments has to be more than the distribution and inflation rates combined.
Here are some important financial considerations after you retire:
- Reassess your income and expense estimates now that you are taking distributions from your savings.
- Adjust estimates to include any lifestyle changes that you didn't plan for.
- Make sure your retirement plan is on track to provide the money you need for the rest of your life.
- Review insurance and medical coverage.
- Apply for Medicare three months before you turn 65.
- Apply for Social Security benefits, preferably at full retirement age or later.
Meet with your financial advisor periodically to make sure your retirement plan is working effectively.
Work with you financial, tax and estate planning advisors to revise your plans after life-changing events.
These calculators will guide you with restructuring your assets:
- Investment Questionnaire
- Net Worth
- Retirement Income
- How Long Will My Retirement Savings Last?
- Required Minimum Distribution
This information is not intended as tax advice. Investors should consult a tax advisor.