6 Questions You NEED to Answer Before Retiring, Ep #71

<p>Are you in your 50s or 60s and wondering what you need to get figured out before you retire? In this episode of the Retirement Made Easy podcast, I share 6 questions you need to ask—and answer—before considering retirement. If you can answer these 6 questions by the time you retire, you should be in great shape. Retirement should be a blessing–not a curse. So let’s get your ducks in a row. </p> <h2>You will want to hear this episode if you are interested in...</h2> <ul> <li>[2:44] 6 questions to ask before you retire</li> <li>[4:05] Check out RetirementMadeEasyPodcast.com</li> <li>[5:55] Question #1: Do you plan on working in retirement?</li> <li>[8:17] Question #2: When will you claim social security? </li> <li>[8:56] Question #3: What will your retirement budget be?</li> <li>[12:15] Question #4: What will you do for health insurance? </li> <li>[13:51] Question #5: What debt do you plan to pay off?</li> <li>[15:03] Question #6: How long will your money last? </li> </ul> <h2>Question #1: Do you plan on working in retirement?</h2> <p>Do you plan on working part-time or seasonally in retirement? What about your spouse? Some of my clients semi-retire or go back to work in part-time capacity. It might be as a contract employee without benefits. Other clients find a new part-time job to keep busy or with a business or organization that they’re passionate about. </p> <p>As a retirement planner, I want to help you plan how much income you’ll expect in the first couple years of your retirement. Do we plan on any income? Or none at all? It may also impact when you claim social security. If you’re under full retirement age and you claim your social security benefit, you’re limited on how much money you can earn. Once you reach it, they withhold funds from your social security check. </p> <h2>Question #2: When will you claim social security? </h2> <p>Knowing what your income might be will help us determine if you should wait to claim social security. Are you going to wait and let your benefit defer and grow? Or start rec