You have worked a lifetime and now retirement is just around the corner. Before heading off into this new and exciting phase of your life, you’ll need to take care of some business to make sure there are no surprises.

Review Your Overall Planning

Think about how much you will need for retirement and how much your realistically have. Talk with your licensed financial professional to help you strategize your needs and goals. Call Tom today for a consultation. 1-800-386-3700

Do You Have A Defined Benefit Pension Plan?

Check your distribution options. They include a single-life option, that lasts as long as you live, or a spousal benefit, which would last the length of both your spouse’s and your life. The latter option lowers the payments expected to receive, but continues payments for the life of a surviving spouse.

Make A Decision About Your 401(k) Plan

Some companies allow retirees to keep their assets in an employer-sponsored 401(k) plan; others dont. You might consider rolling your 401(k) plan balance into an IRA, where you have the ability to continue contributions and where you may have greater flexibility.

Use Your Flex Benefits

If you have a medical flex plan during your working years, use this benefit as fully as possible before you retire for uncovered healthcare expenses as dental work or vision exams.

Healthcare Planning

If you retire before age 65, ask about extending your company health coverage or through COBRA. Don’t be without health insurance. When you reach age 65, you are entitled to Medicare benefits, but you’re not automatically enrolled. If you are applying for Social Security at the same time, you can apply for both benefits at your local Social Security office, online at or by calling 800-772-1213. If you want more health insurance coverage than Medicare provides, you may consider buying so-called Medigap health insurance policy.

Social Security

Because the normal retirement age is rising each year, you may not qualify for full Social Security benefits at the time you qualify for Medicare. When you’re ready to apply, sign up about three months before benefits are to begin.

Call 800-386-3700for a Consultation

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