Retirement Readiness

Will you have enough for thirty years of inflation, taxes and market volatility with no paycheck? Increasing longevity, rising healthcare costs and economic uncertainties, make everyone pause at this question, regardless of net worth. Employment retirement systems have shifted the responsibility of saving for retirement from the employer to the employee. Entitlement programs, like Social Security and Medicare, are strained to continue to provide the same levels of benefits without significant changes. Most Americans would have to sell something or borrow money to cover a $400 emergency today, making setting aside money for the years when they are no longer working and living longer challenging. Is it time to look at retirement in a different way? What’s your plan?

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Retirement Longevity and Security TEDx Talk
TEDx TALK: Retirement – Longevity and Security

AICPA RETIREMENT READINESS PODCAST SERIES

A recognized thought-leader in retirement readiness and women and money, the AICPA invited Paula McMillan, CFP®, CPA/PFS, CGMA to create two podcast series on retirement readiness and  women and money. Take a moment to better understand key challenges and opportunities in retirement planning by checking out the podcasts below:

Will Your Clients Have Enough to Retire?
What is the National State of Retirement?
Making Financial Conversations Count: Integrated Financial Planning
Lessons From the Ninth Hole: What Current Retirees Have to Say
Paula McMillan, CFP®, CPA/PFS, CGMA
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The Second Best Time to Start is Today

The best time to start planning was yesterday. The second best time is today. As you near retirement:

  • Know your “why” that gets you out of bed each morning
  • Have a plan for how you will spend your time
  • Create a plan for covering your expenses in retirement
  • Revisit your investment allocation modifying
  • Determine how to maximize Social Security benefits
  • Understand Medicare and its coverage
  • Know and understand your withdrawal strategy
  • Understand your employee retiree benefits
  • Determine what to do with your retirement plans
  • Know required minimum distribution rules