Ten Questions You Had Better Get Answered About Your Retirement Program
June 10, 2008
We like to pretend that we don't need to worry about these issues. We don't need to worry; we just need to deal with them systematically.
1. What is my life expectancy? (Use this on-line life expectancy calculator.)
2. What is the general state of my health?
3. What about my spouse's life expectancy and health?
4. What age do I plan to retire?
5. Along with Social Security, what will my expected income be when I retire? (What is your total investment portfolio? Find out how large a lifetime annuity it would buy today, beginning in the year you plan to retire.)
6. What rate of price inflation will prevail in the year I retire?
7. Will my home be paid off when I retire?
8. Should I refinance now, buy investment assets (such as three more houses), and use my Social Security income to pay off the mortgage?
9. What will I do with my time in retirement?
10. Where do I want to live after I retire?
This list is a summary of these three issues:
1. Your life expectancy
2. Your pension fund's life expectancy 3. The dollar's life expectancy
For my general assessment of retirement, including my recommended portfolio for retirees, click here.