Near Retirement
As you near retirement, typically marked by being a few years away from official retirement, several pivotal considerations come to the forefront. Depending on your age and net worth, you need to assess elements like health insurance options, available tax credits, potential Roth conversions, and the right withdrawal strategies for your savings.
Health Insurance Options
Whether you're retiring before or after Medicare age eligibility (65), there are many things you can do in preparation. Understanding the differences between HMOs, PPOs, HDHPs, and other insurance types, as well as considering supplementary plans like Medigap, is vital to securing the most beneficial coverage.
Do I need an advisor?
Many individuals are able to save for retirement and accumulate a nest egg without the help of a financial advisor. When it comes time to retire, the complexity of your financial situation typically increases with questions such as social security timing, RMD calculations, withdraw ordering from accounts, health insurance premiums, and much more. It may be a good time to evaluate if an advisor is right for you.
Resources for Near Retirement
WealthGuideIQ exists to help individuals and families connect with advisors that are both trustworthy and capable. Schedule a free consultation to learn more.