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If you’re planning on retiring this year, you’re facing one of the biggest changes in your life. You’re no longer a worker; you’re a person of leisure. However, to make sure you can remain a person of leisure and have your retirement funds properly planned out, there are a few things to do before you get ready to move into one of the Ladera retirement communities in Dallas TX. Take these practice steps so that you can go into retirement doing exactly what you want from day one.
First off, it may be useful to review your retirement plan with your adviser, making sure your money will last for years to come, particularly as people are living much longer lives. Your adviser can help you understand how your plan will work best for you.
Next up, take a trial run, financially, of your retirement income. Try living for a month on what you plan to live on monthly once you’ve reached retirement. If you go over, you can go back and make adjustments with your adviser. If you have extra, consider withdrawing less from your investments to potentially keep you in a lower tax bracket, not to mention possibly help lower your Medicare premiums in the future.
You should also take a look at all of your retirement accounts and make sure they’re set up to help you make the most of retirement financially. With lower tax rates, converting traditional IRAs to Roths may work out better financially.
What to do?
Finally, think about what you actually want to do with your retirement! Do you want to travel, take classes, move to one of the retirement communities in Dallas TX? Whether you live in an active community with a variety of events, activities, sports, and more, or choose to follow your own adventure, start thinking about what you want to do during those first few months of retirement. While relaxing is often a big part of enjoying retirement, make sure you don’t turn into a couch potato. Use this free time you’ve been dreaming of to do all of those things you always wanted to do. Now is a perfect time!
Life at Ladera
Living in the right community will allow you to explore your hobbies and passions after retirement. At Ladera, we provide you with the opportunity to live in a home designed with your lifestyle in mind. We offer you all the amenities you need to maintain a healthy and active adult life.