Thinking of or Considering Retirement? Think Again.

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What Is Your Financial Plan for Retirement?

As you plan for retirement, have you thought about:

1. Your assets (how much you get paid, what’s in your savings and checking accounts

2.  How much is in your retirement fund.

3.  What about your liabilities (including loans, credit cards, and other personal debts.

4.  Don’t forget your mortgage or rent

5.  Remember to include your utility bills and any other monthly expenses (all insurance policies).

These are jus a few of the things you need to consider.

What are your goals are and what do you need to do to get there? Here are some things to consider before you go into retirement:

  • Set your financial goals 
  • Focus on your health and family
  • Review your Retirement Savings Plans 
  • If you have investments, review and rebalance your portfolio 
  • Address your estate and future tax planning (you should have a revocable living trust and an executive directive)
  • Do you have a financial emergency plan 
  • Look ahead to future savings (you don’t want to run out of money) 
  • Develop an alternative income stream. Find something you like to do and figure out how to make money doing it.

Entering into retirement is no joke. You must have an annual financial plan for your peace of mind for today and all of those tomorrows. Check off all the items above and those on your bucket list of wishes. If you have not it’s time to pencil in time. No one is promised tomorrow.

Food for thought. What’s Your’s?

The market was hot and cold today as we close out 2019.

The DOW closed at record levels 28,646.26 up +23.87 a measly 0.08%

The S&P 500 was flat at 3.239.95 at 0.04 or 0.001%

The NASDAQ and the Russell were down a bit.

Getting ready for the New Years weekend. Have fun!

See you on Monday (unless I have something very important to say)

Robert L. Woods (a.k.a. R. LaMont W.)

Robert L Woods

Robert L Woods

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About Me

Robert L. Woods is the retired partner of the Institute For Fiduciary Education (www.ifecorp.com) that provided investment seminars for public and private pension funds, endowments and institutional fund managers. He spent 28 years working for the State of California, as a budget and financial analyst which includes 16 years as an Investment Officer for the California State Teachers’ Retirement System (CalSTRS). At CalSTRS, he established it as one of the nation’s first institutional home loan programs with a down payment assistance component. He also spent 13 years on the Board of Trustees for the Sacramento County Employees Retirement System (SCERS). He was a Trustee with the University of California, Davis, Cal Aggie Alumni Association and a member of the Chancellor’s Council on Community & Diversity. He is a Life Member: Phi Beta Sigma Fraternity, Inc., Theta Gamma Sigma Chapter, Sacramento, CA.

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