The “retirement red zone” is the 5 years before and after retirement—a critical time when your decisions about investments, income, and risk can have a lasting impact on your retirement security. In this video, Peter with Richon Planning and Erin Kennedy zero in on the 10 Steps to Prepare for Retirement:
✅ Define Your Budget – Why knowing what you’ll spend is the foundation of your plan.
✅ Define Your Sources of Guaranteed Income – Create a predictable income stream.
✅ Define Your Income Gap – Identify how much more you’ll need to cover expenses.
✅ Strategize on Social Security – One of the biggest decisions you’ll make in retirement.
✅ Formulate an Income Plan – Bridge the gap between income and expenses.
✅ Understand Your Risk Exposure – How much risk is too much as you approach retirement? ✅ Consider Taxes – Plan ahead for what may be one of your biggest expenses.
✅ Consolidate “Like-Qualified” Accounts – Simplify your retirement portfolio.
✅ Consider Inflation – Protect your purchasing power over time.
✅ Review & Update Your Legal Documents – Why this final step is crucial for protecting your wishes.
Ready to take action? Download “The Countdown to Retirement”—a guide that challenges conventional wisdom and helps you craft a plan that safeguards your lifestyle, comfort, and peace of mind. Visit www.RichonPlanning.com, or call Peter at (919) 300-5886. 📚
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