Your retirement-transition checklist.
Six conversations to have before your next chapter. Use this list to organize your questions for an advisor and tax professional, at your own pace.
Describe the life you are planning for
Write down when you hope to retire, whether you might work part time, and any changes in where or how you want to live.
What is settled, and which decisions still need room to change?
Know where your accounts are
Make a private list of current and former workplace plans, IRAs, taxable investments and cash. Compare the costs, investments and rules before deciding whether to move an old account.
Which accounts need a closer look, and what would a move change?
Connect spending with income
Separate regular expenses from one-time plans. List potential income from work, pensions, Social Security and investments, then discuss how withdrawals and market risk fit together.
What needs to be available soon, and what can stay invested longer?
Coordinate benefits and health coverage
Review your Social Security estimates at different claiming dates. Discuss household and survivor needs, employer coverage, Medicare enrollment and any HSA contributions before choosing dates.
Which benefits or coverage deadlines apply to your situation?
Put taxes beside withdrawal decisions
Ask your tax professional to compare the tax effects of withdrawals, required distributions and any Roth conversion you are considering. A conversion can create taxable income; it is not automatically the right move.
How could a decision this year affect future taxes and cash needs?
Review who and what your plan protects
Check beneficiary designations and identify changes in family circumstances, insurance or estate documents to discuss with your advisor and attorney.
Who should be part of the next conversation?
Primary sources
Bring the questions. Start a conversation.
The first conversation is a free, thirty-minute intake call with Ian Bearss. He learns about your situation and helps identify the appropriate next step. You do not need statements or tax documents for that call.
This checklist and introduction are educational information, not individual investment, tax or legal advice. Decisions depend on your circumstances. Discuss them with the appropriate professionals before acting. Investing involves risk, including loss of principal.