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Thursday, July 21, 2011

Red Zone Retirement Questions

Football fans are familiar with the red zone.  Basically, that's the area within 20 yards of the opponents goal line - basically the  area where the Washington Redskins have a habit of sputtering. The same concept is used in financial planning.  It is generally the 5 years before retirement.  This is when the big cross over from full-time job status to a different life style should be given serious thought.  The questions that need to addressed and talked out with your spouse are set out in a recent article by Mark P. Cussen, "8 Toughest Retirement Decisions":
  1. when to retire
  2. when to start social security
  3. where to live
  4. whether to continue working in some capacity
  5. whether to sell the house
  6. when to begin taking retirement distributions
  7. how to manage the investment portfolio
  8. how to budget.
These are not easy questions; but thinking about them ahead of time can be the difference between scoring a touchdown, a field goal, or coming away empty-handed.

1 comment:

  1. Planning ahead makes all the difference. Investing mistakes after retirement could prove very costly.

    I love the simplicity of the 8 points.