Retiring is a big step for many people. Usually, there is a whirlwind of confusion, chaos and concern before retirement, followed by a slight breeze of boredom and longing. In order to keep everything under control, here is a list of 20 things to do before retirement, in order to make the time after retirement less overwhelming.
– Prepare an updated balance sheet of income and expense.
– Use up your company paid vacation.
– Get rid of debt.
– Make a list of things you’d like to do – a “bucket list.”
– Play a small prank on your boss and co-workers.
– Get your car inspected for any upcoming services.
– If you have a will, make sure it is updated.
– If you don’t have a will, get one, and then make sure it stays updated.
– Home inspection – check and replace any worn out items like doorknobs, faucets, light fixtures, etc.
– Begin the paperwork to file for social security.
– Make sure you have transitional insurance in place, and are applying for other forms of insurance.
– Consider moving to a smaller home or apartment for the sake of ease in maintanence.
– Consider moving to a single story home for ease of movement in the future.
– Assess life insurance needs.
– Play another prank on your boss or co-workers (this is just getting to be too much fun.)
– Talk to your financial advisor about making changes to your portfolio to help support your needs and wants after retirement.
– Check into long-term care insurance.
– Assign a power of attorney in the event of an emergency.
– Have an attorney draw up an advanced medical directive to make sure everyone knows your health care and end of life wishes.
– Play a practical joke on your boss – AND coworkers just to have a good laugh.
Now that you have all of that out of the way, you can sit back, relax, and enjoy the rest of your retirement celebrations. Don’t forget to count down the number of days on a large, easy-to-read wall hanging that can be seen clear across the room. On your last day, run around making funny faces, playing practical jokes, and generally having a grand time.
Mix a bit of silliness in with the serious business of preparing to retire. Pay attention to your current investments as well as your estate and any insurance you wish to keep after retiring. Also, make sure your basic needs are covered and you have some wiggle room in your finances for at least three months after you retire.
This extra cushion will allow you to get settled into your new life, finding your “groove” so to speak, and start taking advantage of all the things you were planning on doing. Plus, you will have time to reminisce on those practical jokes you played on your boss and coworkers. Retirement is a fun time and should be enjoyed. Just make sure you have all of the work done before you go off and play.