Today, I was thinking about the retirement planning process that I take my clients through. I spent time thinking about each step that is important to plan for in order to have a successful blueprint.
These stages include understanding how much retirement expenses will be, how to create reliability of income in retirement, how to deal with uncertainty of healthcare expenses and market risk, to name a few.
Each of us is in a different stage of “readiness” when it comes to completing each step. At one end of the spectrum, we’re not ready at all and don’t have a plan. At the other end of the spectrum, we’ve thought everything through and have a clear strategy.
After I had thought each step through, I created a “Retirement Readiness” Scorecard. It is designed to help you identify your strong points and weak points when it comes to your retirement plan.
I encourage you to download it, print it out, and score yourself. At the end of each row in column A is your current score. Then at the end in column B, you can determine what your desired score is for each retirement planning step/stage.
Let me know how you score!
If you have any questions please feel free to contact me.