Work with Taylor: https://www.demarsfinancial.com/start-here?utm_source=Youtube&utm_medium=Videolink&utm_campaign=46292 Get The $10,000 Sample Plan Here: https://www.demarsfinancial.com/sample-plan?utm_source=Youtube&utm_medium=Videolink&utm_campaign=46253 What should you do before retiring? In this video, Taylor walks through the major financial decisions to review before leaving work so you can enter retirement with a clearer plan for your income, investments, taxes, healthcare, and lifestyle. Pre-retirement planning involves more than reaching a specific savings goal. You need to understand how much you expect to spend, where your retirement income will come from, and whether your portfolio can support your lifestyle through different market conditions. Taylor explains why creating a retirement income plan before your final paycheck is so important. This includes coordinating portfolio withdrawals with Social Security, pensions, and other income sources while deciding which accounts to use and when. Tax planning can also become more valuable during the years surrounding retirement. Withdrawals from 401(k)s and traditional IRAs create taxable income, while Roth accounts and taxable investments are treated differently. The timing of these decisions may affect future required minimum distributions, Medicare premiums, and your overall tax bill. We also look at healthcare before Medicare, investment risk, emergency reserves, estate planning, and the importance of testing your retirement plan against inflation, market downturns, and unexpected expenses. If you are approaching retirement, planning to retire early, or wondering whether you are financially ready to stop working, this video will help you identify the questions that should be answered before making the transition. 0:00 The Three Dimensions of Retirement Readiness 1:54 Financial Readiness: Can Your Money Fund Retirement? 3:41 Structural Readiness: Making the Plan Work Together 9:41 Personal Readiness: Deciding When Work Is Optional Resources: Website: https://www.demarsfinancial.com/ Phone: (509) 536-9556 Schedule an introduction call with Taylor: https://bit.ly/demarspodcast Check out Taylor's YouTube Channel: https://www.youtube.com/@TaylorMadeRetirement Taylor's Newsletter: https://demars-financial-group.kit.com/827c64fe0e Disclaimer: Since we don't know your specific situation, none of this information should be construed as tax, legal, financial, insurance, financial advice, or other advice and may be outdated or inaccurate. It is your responsibility to verify all information yourself. This content is prepared for entertainment purposes only. If you need advice, please contact a qualified CPA, attorney, insurance agent, financial advisor, or the appropriate professional for the subject you would like help with. Demars Financial Group, LLC or its members cannot be held liable for any use or misuse of this content. Advisory services offered through Demars Financial Group LLC, a Registered Investment Advisor. Demars Financial Group is not affiliated with LPL Financial.
