Retirement Checklist

Retirement

Most large firms and government employers have their own checklists for retirement. Check with your Human Resources department to see if yours does.

If you are in the National Guard or reserves, check with your respective state. Your Department of the American Legion will also have retirement information available to you.

General retirement checklist

Five years before retirement –

1. List all bills

   1) Estimate the ones you’ll pay off and the ones you’ll always have

   2) Estimate how much income you will need once you start retirement

   3) Try to figure out how much extra income you will need to stay ahead of inflation.

2. Start to adjust your income to your retirement level and save the balance.

One year before retirement

1. Check with your local Social Security Office to learn how much income you will receive, what paper work you need to secure it, and any rules affecting this income.
2. Talk to your investment counselor or financial planner
3. Talk to your company benefits counselor to see what your health insurance options are.
4. Consider if you are really ready to retire.

Four months before retirement

1. Set a date – you do not need to announce it yet
2. Go to your local Social Security office to make arrangements.

Three months before retirement

1. Tell your employer so you can begin the paperwork

One month before retirement

1. Contact your supplemental insurance carriers to talk about transition arrangements
2. Plan a celebration