Three generations of family

The Three Phases of Retirement

Phase One: Getting Retirement Ready

The first stage of retirement is pre-retirement planning. It takes the most work, it takes a long time and it’s the most important.
At this stage in your life, it’s important to identify your goals, create a realistic timeline and begin to create a personalized plan. You may wish to consult with a financial advisor who can help you to envision your ideal retirement and craft a plan to help achieve it.

Phase Two: Retirement Transition

The second stage of retirement is putting your plan into action. Although this stage is filled with anticipation and excitement, it can also be the most difficult.

Navigating the complexities of taxes, consolidating accounts, withdrawal options and ongoing planning can be intimidating. As you transition from work to retirement, it’s important to assess your portfolio to ensure it supports an ongoing, consistent income level.

Phase Three: Retirement Living

In the third phase, hopefully you’re enjoying your retirement. Now that you’ve been living your plan, you should have a better sense of what you need.

Your lifestyle and spending habits continue to change during this period, so it’s prudent to revisit your plan and your investment options annually. Often, retirees are more conservative than they thought and may adjust their course for a more comfortable retirement. This is also an important time to consider the future costs associated with medical expenses, downsizing your home, long-term care and what you may want to leave for your family.

Regardless of which stage you’re in, a retirement plan is vital, but it’s important to remember that it isn’t rigid, but modifiable. We encourage you to meet with a financial services professional to help you get retirement ready, make a seamless transition and enjoy

As the financial advisor at 1st United Credit Union through Osaic Institutions, Inc., Rahil Machiwalla can answer questions or help provide direction. He is available to chat by phone or can meet you at any 1st United branch. Call him at (925) 598-4718 or schedule your appointment today.
This information brought to you by:

Rahil Machiwalla, Financial Advisor
Rahil Machiwalla, Osaic Institutions, Inc.*
Financial Advisor
(925) 598-4718
CA Insurance Number: 0G20361

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*Investment and insurance products and services are offered through Osaic Institutions, Inc., Member FINRA/SIPC. Osaic Institutions does insurance business in California as Osaic Institutions Insurance Agency. CA Agency License #OH30186. Osaic Institutions and 1st United Credit Union are not affiliated. Products and services made available through Osaic Institutions are not insured by the NCUA or any other agency of the United States and are not deposits or obligations of nor guaranteed or insured by any credit union or credit union affiliate. These products are subject to investment risk, including the possible loss of value.

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Plan for your best future.

Whether retirement is far in the future or right around the corner, an Individual Retirement Account (IRA) can help you save so you can live your best financial life.