When you look at your finances do you wonder if you are truly prepared for retirement? Unfortunately, just having a 401(k) and collecting Social Security may not cut it for many of us anymore. But is there a key retirement piece you might be overlooking? We’ll address that big question on today’s show by posing — then answering — four other key questions:
- How many sources of retirement income will you have?
- When do you plan to start drawing Social Security benefits?
- What is your plan to pay for excess health and/or long-term care expenses?
- What is your inflation hedge plan?
Tough questions — but certainly ones that, once answered, will can help you reach retirement with a clearer idea of the steps you need to take financially to truly enjoy life’s next phase.