Checklist: Plan to Retire
Using a checklist can often help you stay organized and in control. Below is a guideline you can rely on to ensure that you don't miss a task or a deadline. Feel free to print a copy, email it to yourself, or share this link with a friend.
 
Finances
 
Consult with your financial advisor.
Reduce or eliminate outstanding debt.
Apply for Social Security benefits, if you haven't already done so.
Speak to your bank about refinancing options.
Determine your health care coverage and expenses once you retire. Do some research to be sure your plan matches your needs and budget.
Review your insurance policies (Homeowners, Long-Term Care, Auto, Life, etc.)
Review the payment options in your pension plan - every month, every year, lump sum, etc.
Find a tax consultant.
Find an attorney.
Create or update your last will & testament with your attorney. Discuss it with beneficiaries.
Set aside some money for emergencies.
Make a budget according to the new lifestyle you will have.
Consider working part-time to keep you busy and earn additional income.
 
Lifestyle
 
Choose your retirement date. Be sure to investigate employee benefits before doing so.
Plan a retirement party!
Decide what kind of lifestyle you will have when you retire: active, indulgent, etc.
Research various places you'd like to travel to, the best time of year to travel there and the estimated cost of each trip. Find Bed & Breakfasts.
Learn a new hobby, sport or skill - play an instrument, paint, draw, dance, etc. Find a school.
Turn a hobby or passion into a business. Start a company.
Exercise regularly to stay fit, healthy and strong. Find a gym or personal trainer.
Make your own website or blog. Find a website design company.
Learn a foreign language. Find a language school.
Find places to volunteer your time.
Go back to school to study something you always wanted to learn more about.
Get a pet to keep you company. Find pet services.
Consider obtaining at-home care or assisted living services. Find health care options.
Take on a challenging project you didn't have time for in the past. Perhaps renovate your home or go green!
 
Location
 
Decide if you will spend your retirement in your current location or go elsewhere (new home, nursing home, move in with family, etc.).
If moving, research where you'd like to spend your retirement. Consider things like proximity to transportation hubs, hospitals, family and friends, etc.
Consider selling your current home if you are moving to a new one. Research the market and find a realtor.
Visit the areas you have selected for retirement.
Find local or international retirement properties. Enlist the help of a real estate agent.
Purchase a retirement home, or a second home. See our Buy a House checklist.
If your time will be shared between 2 or more locations, consider renting each home when it is vacant. Find a property management company.
If you are moving, see our 'Moving' checklist for related tasks and deadlines.
Find a moving company to help you relocate.
Consider renovating certain elements of your home to make them more senior-friendly (i.e., walk-in bathtub, door handles, wheelchair accessibility, etc.). Find tradesmen.
 

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