Get Retirement Ready

“Be Prepared” has been wise advice since the beginning of time and there is no better example in modern life than retirement. Pension planning is crucial to be Retirement Ready. But to be fully prepared there are many other items that you need to consider.

Mind My Money focus on how clients can develop their objectives and help establish the financial capacity to realise these goals while they navigate the inevitable shifts and changes that happen along the way.

Take the Mind My Money quiz to see how ready you are and identify what you can do now to make your retirement dreams a reality.

Preparing to Retire	Yes	No
Have you planned when you are going to retire?
Are you saving to fund your retirement?
Do you have a company or private pension?
If you are saving, are you saving enough and are you on target?
Do you have other means for your retirement income?
Purposeful Activity	Yes	No
Have you planned what you will do after retirement?
Will you need to continue to earn part or full-time?
Is there something you are passionate about doing?
Do you have worthwhile activities outside work?
Have you thought about new aspects of your identity?
Personal	Yes	No
Do you plan to learn or do something new?
Will you take part in leisure, travel, or sports activities?
Do you have a hobby you want to pursue?
Relationships	Yes	No
Have you discussed your retirement plans with your spouse, partner, or someone close to you?
Are you involved with your local community?
Do you have friends outside work?
Do you plan to do things to increase social contact after retirement?
Move or Stay	Yes	No
Have you made any decision about where you will live?
Are you planning to make your home energy-efficient?
Will your mortgage be paid off before you retire?
Do you plan to age proof your home?
Positive Health	Yes	No
Are you as fit as you would like to be?
Do you have regular medical check-ups?
Do you feel positive about the prospect of retirement?
Are you eating and exercising healthily?
Have you reviewed the cost of long-term care?
Will Ready	Yes	No
Have you made a will?
Is it up to date?
Have you discussed Estate Planning to protect the wealth that you have generated?
Do you have a record of your important documents
Do you plan to get rid of surplus possessions?
Money	Yes	No
Do you know what your income will be in retirement?
Have you sought independent financial advice?
Do you have any earnings after leaving full time employment?
Have you reviewed your life assurance requirements and priorities?
Will you be free of your mortgage and other debt?
Do you think you will be able to manage on your retirement income?
Will your fund last for the remainder of you and your partner’s life?
Have you planned a joint retirement budget with your partner?
Your Plan	Yes	No
Have you received non-financial advice on retirement?
Have you made a joint retirement plan together?
Have you set some written goals for what you want to achieve?
Can you visualise how your retirement dream will be?

 

If you have answered ‘yes’ to 25 or more of the questions, you are on the right track and your ‘no’ answers will help you focus on any gaps.

If you have answered ‘yes’ to less than 25 you could need some help (under 15 needs serious attention) to prepare you for this major life transition.

 

Contact Mind My Money for a complementary consultation to help You get Retirement Ready

www.mindmymoney.ie