Checklist: Financial Planning in Your 60s - Carroll Financial
April 22, 2021

Checklist: Financial Planning in Your 60s

We’re often asked by clients and potential clients, “What should I be thinking about now?” or “What are some things I can be doing now to help set me up well for the future?”

We put together checklists for your 20s, 30s, 40s, 50s and 60s to help you navigate each stage of life, identify and plan for your goals, and put a solid plan in place so you feel confident about your finances.

Checklist: Financial Planning In Your 60s

  • Plan for when you will retire and how that will play out. Where will you live? What hobbies will you have? Will you continue to work part-time?
  • Make sure you have a retirement income strategy in place.
  • Think about how you can reduce your fixed expenses in retirement, so that you can adequately cover them.
  • Work with your financial advisor to figure out what you will do with your retirement assets once you stop working.
  • Figure out when to start taking Social Security benefits, keeping in mind that the longer you wait, the more you’ll receive.
  • Apply for Medicare three months before you turn 65
  • Check into the Medicare prescription drug options and Medigap policies to supplement Medicare coverage, to make sure you have the coverage you need.

Questions to think about:

  • How do I want to spend my retirement?
  • What will impact my health and happiness in retirement?
  • Do I have interests and “callings” outside of career?
  • How do I want to support my adult children?
  • What if my adult children need to support me?
  • What kind of legacy do I want to leave?
  • Which social groups or activities do I want to be involved in?
  • Are there any non-profit organizations I want to volunteer with?

How we can help:

If you would like help thinking through any of the above topics, please reach out to an advisor. We’re here to help as you navigate each stage of life.

Other Checklists:

Estate Planning, Healthcare, Life Insurance, Retirement Planning, Social Security
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