The Three Phases of Retirement

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.

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 CUSO Financial Services, L.P. (CFS*), 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.