Transition Thursday: 10 Best Retirement Steps to Take Right Now

Chalk drawing of house and dollar sign on blackboard1. Have a discovery phase
Call it an assessment, checkup or discovery, but a key part of planning for retirement is taking an overall look at what’s going on. See where your money is invested, check the performance and scrutinize your contributions. Online tools, such as Bankrate’s best retirement calculator or retirement income calculator, can help you to see if you are on track to accumulate enough money to meet your expenses and the live you want to live in retirement.

2. Learn the rules
The rules of retirement financing are complicated, but you don’t have to be Einstein to learn them. Get the lowdown on a couple of specifics. Should you be in a Roth IRA or a traditional IRA? One has tax-deductible contributions, the other has tax-free withdrawals.

Social Security has different claiming strategies, and one notable loophole — “file-and-suspend” — is over. As you prepare for retirement, check your Social Security account to see how you might claim a bigger benefit by waiting until your full retirement age. At the very least, you should know that for every year past 62 you delay benefits, your monthly check increases.

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DAYNA WILSON: As a Certified Senior Housing Professional (CSHP) , I have special knowledge about everything from reverse mortgages to the importance of universal design. I can tap into my network and put you in touch with my team of qualified home inspectors, movers, attorneys, CPAs, organizers and other experts. I have all the resources and knowledge to simplify the transaction and eliminate the anxiety of selling your home.

Call me today to talk about your real estate concerns. I’m here to listen: 925.788.6582

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