* . *
  • About
  • Advertise
  • Privacy & Policy
  • Contact
Tuesday, October 7, 2025
Earth-News
  • Home
  • Business
  • Entertainment
    Row K Entertainment Emerges as Major New Hollywood Buyer With Splashy TIFF Shopping Spree – TheWrap

    Row K Entertainment Emerges as Major New Hollywood Buyer With Splashy TIFF Shopping Spree – TheWrap

    Charlie Hunnam Reflects on Playing a Serial Killer in Monster: The Ed Gein Story – Yahoo

    Charlie Hunnam Reveals the Dark Challenges of Playing a Serial Killer in Monster: The Ed Gein Story

    “Reba” cast, then and now: See the stars 24 years later (and who’s reunited for another show) – Yahoo

    “Reba” cast, then and now: See the stars 24 years later (and who’s reunited for another show) – Yahoo

    Why Taylor Swift Name-Dropped Elizabeth Taylor in Her New Album – Yahoo

    Here’s Why Taylor Swift Dropped Elizabeth Taylor’s Name in Her New Album

    Al Roker Gives Olivia Dean an Unexpected ‘New Job’ on the ‘Today’ Show – Yahoo

    Al Roker Shocks Olivia Dean with an Exciting New Role on the ‘Today’ Show

    Books about the arts and some haunts for a Denton October – Denton Record-Chronicle

    Uncover Artistic Treasures and Spooky Adventures to Experience in Denton This October

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Is Light-Speed Analog Computing the Future of Technology? – BIOENGINEER.ORG

    Could Light-Speed Analog Computing Transform the Future of Technology?

    ARM Institute opens technology project call to speed submarine manufacturing – The Robot Report

    ARM Institute Unveils Cutting-Edge Technology Project to Revolutionize Submarine Manufacturing

    Forget Cowbells. Cows Wear High-Tech Collars Now. – The New York Times

    Ditch the Cowbells: Discover the High-Tech Collars Transforming Cattle Care

    What the Recent Price Surge Means for Figure Technology Solutions After SEC Settlement – Yahoo Finance

    What the Recent Price Surge Reveals About Figure Technology Solutions Following SEC Settlement

    MAC Brings iPad Technology to Football Sidelines Across All 13 Member Schools – Sports Video Group

    MAC Brings iPad Technology to Football Sidelines Across All 13 Member Schools – Sports Video Group

    Technology Is Becoming More Important Than Humans In CX – No Jitter

    Technology Is Becoming More Important Than Humans In CX – No Jitter

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
  • Home
  • Business
  • Entertainment
    Row K Entertainment Emerges as Major New Hollywood Buyer With Splashy TIFF Shopping Spree – TheWrap

    Row K Entertainment Emerges as Major New Hollywood Buyer With Splashy TIFF Shopping Spree – TheWrap

    Charlie Hunnam Reflects on Playing a Serial Killer in Monster: The Ed Gein Story – Yahoo

    Charlie Hunnam Reveals the Dark Challenges of Playing a Serial Killer in Monster: The Ed Gein Story

    “Reba” cast, then and now: See the stars 24 years later (and who’s reunited for another show) – Yahoo

    “Reba” cast, then and now: See the stars 24 years later (and who’s reunited for another show) – Yahoo

    Why Taylor Swift Name-Dropped Elizabeth Taylor in Her New Album – Yahoo

    Here’s Why Taylor Swift Dropped Elizabeth Taylor’s Name in Her New Album

    Al Roker Gives Olivia Dean an Unexpected ‘New Job’ on the ‘Today’ Show – Yahoo

    Al Roker Shocks Olivia Dean with an Exciting New Role on the ‘Today’ Show

    Books about the arts and some haunts for a Denton October – Denton Record-Chronicle

    Uncover Artistic Treasures and Spooky Adventures to Experience in Denton This October

  • General
  • Health
  • News

    Cracking the Code: Why China’s Economic Challenges Aren’t Shaking Markets, Unlike America’s” – Bloomberg

    Trump’s Narrow Window to Spread the Truth About Harris

    Trump’s Narrow Window to Spread the Truth About Harris

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    Israel-Gaza war live updates: Hamas leader Ismail Haniyeh assassinated in Iran, group says

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    PAP Boss to Niger Delta Youths, Stay Away from the Protest

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Court Restricts Protests In Lagos To Freedom, Peace Park

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Fans React to Jazz Jennings’ Inspiring Weight Loss Journey

    Trending Tags

    • Trump Inauguration
    • United Stated
    • White House
    • Market Stories
    • Election Results
  • Science
  • Sports
  • Technology
    Is Light-Speed Analog Computing the Future of Technology? – BIOENGINEER.ORG

    Could Light-Speed Analog Computing Transform the Future of Technology?

    ARM Institute opens technology project call to speed submarine manufacturing – The Robot Report

    ARM Institute Unveils Cutting-Edge Technology Project to Revolutionize Submarine Manufacturing

    Forget Cowbells. Cows Wear High-Tech Collars Now. – The New York Times

    Ditch the Cowbells: Discover the High-Tech Collars Transforming Cattle Care

    What the Recent Price Surge Means for Figure Technology Solutions After SEC Settlement – Yahoo Finance

    What the Recent Price Surge Reveals About Figure Technology Solutions Following SEC Settlement

    MAC Brings iPad Technology to Football Sidelines Across All 13 Member Schools – Sports Video Group

    MAC Brings iPad Technology to Football Sidelines Across All 13 Member Schools – Sports Video Group

    Technology Is Becoming More Important Than Humans In CX – No Jitter

    Technology Is Becoming More Important Than Humans In CX – No Jitter

    Trending Tags

    • Nintendo Switch
    • CES 2017
    • Playstation 4 Pro
    • Mark Zuckerberg
No Result
View All Result
Earth-News
No Result
View All Result
Home Business

Planning to retire in 2024? Do this one thing now.

December 30, 2023
in Business
Planning to retire in 2024? Do this one thing now.
Share on FacebookShare on Twitter

Google “preretirement checklist” or something similar, and you’re apt to get a lot of hits for articles about basic “block and tackle”-type things like health insurance, long-term care, investing, minimizing taxes and creating a budget.

And all of that is important.

But when I asked a wide range of actual, practicing financial planners around the country for their retirement-planning ideas, I was struck by the responses. These are people who’ve helped scores, even hundreds (or perhaps thousands) of people retire over the years, from Portland, Maine, to Portland, Oregon, and from Miami to Maui. They’ve seen what’s worked and what hasn’t. And while they didn’t neglect the boring but important stuff, those weren’t the things they most wanted to talk about.

Their number one tip? Work out what you want to do when you are retired. Where you want to live. And how.

“Aside from the ‘Do I have enough money?’ financial question, there’s the psychological side,” says Brad Wright, a financial adviser at Launch Financial Planning in Andover, Mass. “Most people think about getting themselves to retirement, but few think about getting themselves through retirement. What’s your plan for the next 25-30 years?”

“‘Most people think about getting themselves to retirement, but few think about getting themselves  through  retirement.’ ”

If you are on the threshold of retiring, he says, then you need to ask yourself key questions such as: “Where do I want to live? What do I want to do? Who do I want to do it with?”

If you plan to move, he also suggests giving the new area a trial run — or, at least, renting for a few months first before you think about buying. “I know more than a few people who have retired to Florida, only to return a couple of years later,” adds Wright.

“Before you retire, carefully consider what your next life steps will look like to add to your future happiness,” agrees Sandra Gilpatrick, a wealth adviser with her own firm in Boston. “Ponder what will give you joy and help you keep a connection to your community, contributing to a healthier life longer term.”

Marisa Bradbury, a financial planner at Sigma Investment Counselors in Lake Mary, Fla., is also in favor of making the most of your time. “Aside from the normal checklist items like budgets, healthcare, etc., I think it’s more important to review what you will do with your extra time,” she says. “Do you have hobbies and interests outside of work? Do you want to spend time volunteering? Traveling? And most importantly, do you have places to socialize outside of work — like church, a club, or family and friends? Make sure you have an idea of what to do with all your free time.”

Strategizing how to best spend your time is as important as figuring out the best way to spend your money. “Having the money to support your retirement isn’t much use if you don’t have a plan for how you’ll spend your time,” says David Foster, a financial planner with Gateway Wealth Management in St. Louis, Missouri. “People need a purpose to feel like their life has meaning. If work was your purpose for getting out of bed every day, and now that’s gone, with what are you going to replace that purpose?”

He adds: “There’s not necessarily a wrong answer to this question, but there needs to be an answer, or you’re liable to fall into a postretirement depression that can be hard to break out of.”

This, incidentally, is a bigger risk than many people may realize. Research shows that retirees are more likely to experience depression than those still in work.

“Having purpose in retirement is crucial for having a successful and enjoyable upcoming chapter of life,” agrees Rob Greenman, a financial planner at Vista Capital Partners in Portland, Oregon.

And try to go beyond the vague to the specific, advises Mitchell Kraus, a financial planner at Capital Intelligence Associates in Santa Monica, Calif. “Have you written down what your daily and weekly routine might look like in retirement? Have you had discussions with your family, friends and other loved ones about your retirement plans and dates? Who will be in your social network after you retire? What are your biggest fears about not having to go to work every day?”

Retirement may be longer than you realize. Men at 65 can expect to live another 17 years on average, says the Social Security Administration. Women at 65 can expect to live 20 years. And those are just the averages. At age 65 nearly 20% of men, and 30% of women, can expect to live into their 90s.

Catherine Valega, a financial planner at Green Bee Advisory in Winchester, Mass., says you should try to break this plan down into three phases: What you expect to do in your early “go-go years,” when you may be busy, traveling and doing things, your plans for the following “slow-go years,” when your energy, and maybe health, force you to take things easier, and the final (gulp) “no-go” years, which may well include time in assisted living or a nursing home, she says.

Once you’ve worked out why you are retiring, what you plan to do in retirement, where, and with whom—well, then comes time for all the boring but essential stuff.

Talking to a fee-only financial planner is never going to be a bad move. These things are ridiculously complex. The American tax, healthcare and benefits systems are an elaborate nightmare that make a mockery of the eighth amendment’s guarantee against “cruel and unusual punishment.” In this case, the punishment is usually crueler and more unusual the harder you’ve worked in your life, the more you’ve saved, and the more moving parts you need to track.

Will you be eligible for Medicare when you retire? If not, what are your plans to bridge the gap until you are? If so, which Medicare plan is the best for you, and what are you going to do about supplemental insurance? Do you have savings in pretax accounts, such as an IRA and a 401(k), and in posttax accounts including Roths? If so, have you worked out the best way to take money out to minimize your annual taxes? Do you have an estate plan? Are you better off owning your home (if that’s an option) or renting? Should you try to supplement your income with part-time work? Should you buy a lifetime annuity to ensure secure and stable income? And what is your plan if (or when) you become physically frail and need help? Can you afford long-term care? Do you need a long-term-care insurance policy?

Possibly the most important basic step is to draw up a budget—a spending plan.

Daniel Lash, a financial planner with VLP Financial Advisors in Vienna, Va., recommends a comprehensive, long-term one. 

“Have a detailed plan for different spending needs throughout the entirety of retirement which could span 20-30 years,” he advises. “This should include annual spending for basics and then spending for travel, house repairs, new cars, charitable giving, downsizing of house, long-term care,” and other expenses, he says.

Sandra Gilpatrick warns that getting the budget wrong early on can throw out the entire plan. “One of the common mistakes I see as clients retire is not planning enough in their budgets for the first few years in retirement,” she says. She’s seen people grossly overspend in the early years, “doing extra travel and fun activities.” If that coincides with a bad spell for their investments, that can have an outsize effect on the amount of money they’re likely to have left down the line.

This is just one reason many retirees choose to work part-time, often at something completely different, after pulling the plug on their main career. It can help provide a financial cushion, letting your savings last longer. But it’s also a chance to do something — lower paid, but interesting — you may have always wanted to do.

Laurie Allen, a financial planner at LA Wealth Management in Redondo Beach, Calif., recommends clients run a three-month trial run before actually retiring. During that time they try to live on their planned retirement budget. 

“For some, the amounts are the same, but for others their income will be somewhat less that they brought home while they were working,” she said. “I’ve had two people in the last years decide to delay their retirement, because the assumptions they made about how they would feel living off of less didn’t quite work out. They realized that it was worth it to go a few more years so that when they finally decided to call it quits, they had a more comfortable lifestyle.”

>>> Read full article>>>
Copyright for syndicated content belongs to the linked Source : MarketWatch – https://www.marketwatch.com/story/planning-to-retire-in-2024-do-this-one-thing-now-70013c4e?mod=mw_rss_topstories

Tags: businessplanningretire
Previous Post

Retirees struggling to stay afloat: How to keep health and economic issues from draining your savings

Next Post

Work is more dangerous for young people. Here’s what employers can do about it.

Trump questions back pay for federal workers furloughed as part of government shutdown – CNN

Trump Questions Back Pay for Federal Workers Affected by Government Shutdown

October 7, 2025
Learned use of an innate sound-meaning association in birds – Nature

How Birds Unlock Natural Sound-Meaning Links Through Learning

October 7, 2025
This Ancient Statue Was Discarded by Raiders. Scientists Think It’s a Rare Treasure. – Popular Mechanics

Forgotten by Raiders, This Ancient Statue Could Be a Priceless Treasure

October 7, 2025
Scientists used AI to map uncharted areas of the mouse brain – Live Science

Scientists Harness AI to Uncover Hidden Regions of the Mouse Brain

October 7, 2025
Pets of the Day: Sweep the clouds away with Zoe, Telly and Elmo – Yahoo

Meet Zoe, Telly, and Elmo: Your Daily Dose of Sunshine and Smiles

October 7, 2025
Is Light-Speed Analog Computing the Future of Technology? – BIOENGINEER.ORG

Could Light-Speed Analog Computing Transform the Future of Technology?

October 7, 2025
Frustrations grow around Bill Belichick and North Carolina after team’s porous start to the 2025 season – Yahoo Sports

Frustrations grow around Bill Belichick and North Carolina after team’s porous start to the 2025 season – Yahoo Sports

October 7, 2025
Jason Anderson Signs for Suzuki for 2026 SMX World Championship – Monster Energy AMA Supercross

Jason Anderson Signs for Suzuki for 2026 SMX World Championship – Monster Energy AMA Supercross

October 7, 2025
Downtown St. Paul’s economy showing new life after state employees mandated to return to office – 5 EYEWITNESS NEWS

Downtown St. Paul Thrives Again as State Employees Return to the Office

October 7, 2025
No, Anthony Boyle Didn’t Use a Prosthetic in His House of Guinness Bath Scene – Yahoo

Anthony Boyle Opens Up About the Shocking Truth Behind His House of Gucci Bath Scene

October 7, 2025

Categories

Archives

October 2025
M T W T F S S
 12345
6789101112
13141516171819
20212223242526
2728293031  
« Sep    
Earth-News.info

The Earth News is an independent English-language daily published Website from all around the World News

Browse by Category

  • Business (20,132)
  • Ecology (856)
  • Economy (876)
  • Entertainment (21,749)
  • General (17,464)
  • Health (9,918)
  • Lifestyle (889)
  • News (22,149)
  • People (878)
  • Politics (888)
  • Science (16,087)
  • Sports (21,377)
  • Technology (15,857)
  • World (859)

Recent News

Trump questions back pay for federal workers furloughed as part of government shutdown – CNN

Trump Questions Back Pay for Federal Workers Affected by Government Shutdown

October 7, 2025
Learned use of an innate sound-meaning association in birds – Nature

How Birds Unlock Natural Sound-Meaning Links Through Learning

October 7, 2025
  • About
  • Advertise
  • Privacy & Policy
  • Contact

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

No Result
View All Result

© 2023 earth-news.info

Go to mobile version