5 Things to do Before You Retire

30 Jan 2015

1. Rethink Your Investment Strategy: 

The past 30 years you have been in the accumulation stage, now you are in the distribution phase. Growth is still important, but more emphasis should be on income and keeping pace with inflation.

2. Review Your Estate Plan:

Make sure your will and trusts accurately reflect your new style of life. You would be amazed how many people we see neglect this part of the process. Communicate your desires with your children!

3. Decide on Long Term Care Insurance:

There are 4 ways to approach long term planning

  •  Ignore the problem (yes, this is a popular method!)
  • Plan on going on Title 19
  • Self-insure – you have enough money
  • Buy personal LTC

Everyone will fall under one of these categories. We are living longer and the costs of LTC are skyrocketing. Do something now.

4. Have a Retirement Income Analysis Done: 

Social Security, pensions, dividends, and interest are all types of income. Take the time after you go over your expenses to focus on how you are going to pay for everything and have enough left over to really enjoy retirement.

5. Decide What You Are Going To Do With All The Free Time: 

We see many people return to the workforce doing something they actually want to do as opposed to need to do. Stay healthy and active and retirement can be great both financially and emotionally.

Good Luck!

Jeff Johnston, ChFC
Investment Advisor Representative

 

Securities offered through Registered Representatives of Cambridge Investment Research, Inc., a Broker/Dealer, Member FINRA/SIPC. Advisory services offered through Cambridge Investment Research Advisors, Inc., a Registered Investment Advisor. Cambridge and Premier Investments of Iowa, Inc. are not affiliated.

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Jeffrey Johnston

Jeffrey is originally from Solon, Iowa. He currently resides in Swisher, Iowa with his wife, Prudence, and his three children, Seth, Ian, and Roman. He graduated from the University of Northern Iowa in 1989, where he majored in Finance and Investments. He has 24 years of experience in the investment and estate planning business. He is currently the President of “Premier Investments of Iowa, Inc.” Jeffrey’s main focus is Estate and Investment Planning for Senior Citizens and Pre Retirees. Jeffrey became a Chartered Financial Consultant (ChFC) in 2001. He is the author of many articles on industry related topics and he is a frequent seminar presenter. He is a Board Member TRIAD Linn County Seniors Against Crime, and he is also a past Board Member of the Heritage Area Agency on Aging Task Force. He is a member of CEO Roundtable in Cedar Rapids, a Daybreak Rotary Member, and a member of the Cedar Rapids Estate Planning Council. In March of 2009, Jeffrey became the host of the Premier Investments of Iowa Financial Hour which airs every Tuesday Evening from 6PM -7PM, on WMT 600 AM Radio. In his free time he enjoys golf, fishing, scuba diving, traveling, and coaching son’s basketball teams.