6 Steps to Take Before Retiring
Everyone counts down the years, days, and minutes until they can retire. But before you retire, there are six important steps you need to take to retire worry free.
1. Define Your Retirement
This is an important step because you're taking a look at all the money you have. Look at how much you have in your savings accounts, retirement accounts, stocks and bonds, and any other savings accounts you may have. This will give you a better idea on how much money you can allocate to everything you want to do.
3. Create a Retirement Budget
Creating a budget is important now more than ever. Since you "lose" your primary source of income and only receive a set amount each month, or every week, you need to keep track of your expenses so you don't run yourself dry. It's also important because you can allocate a certain amount each month for the goals you decided on in step one. You can also profit off a hobby you have, if you wish to make some extra cash.
4. Plan for the UnexpectedHow will you pay for unexpected home emergencies? Do you have money set aside for any emergencies or serious illnesses? Setting money aside for unexpected emergencies is important at any stage of your life!
5. Decide if you want (or need) to work6. Stick to Your Plan
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