Retirement is about more than saving. It’s also about knowing what you’re saving for. If you’re within five to ten years of retirement, now is the time to start building a plan around the life you actually want.
Ask yourself these five questions to help shape your retirement vision.
- First: “When do you want to retire?” Timing affects your income, healthcare, and Social Security benefits more than you may realize.
- Second question: “How do you want to spend your days?” Meaningful activity can help make the transition smoother.
- Third: “Where do you want to live?” You’ll want to consider family, healthcare access, and cost of living, among other factors.
- The fourth question: “What will your retirement lifestyle cost?” The more active you are, the more you may need to add to your budget.
- And finally, “Does your plan include giving back?” It might be to family, community, or causes you care about.
Your answers are just the beginning. Work with your financial advisor to align your savings with the lifestyle you want. And revisit your plan as priorities evolve. This content was provided by Edward Jones for use by Linda Drake, your Edward Jones financial advisor, at (480) 985-2651. Member SIPC. Edward Jones, its employees, and financial advisors cannot provide tax or legal advice. You should consult your attorney or qualified tax advisor regarding your situation.