MoneyWise Live


Your Retirement Checklist with Mark Biller

November 19, 2018

If you were a pilot, would you take off before completing a pre-flight checklist -— making sure you have enough fuel and all systems are go?  Of course not; so why take off into retirement without first checking all the boxes?  You don’t have to because we’ve got your retirement pre-flight checklist right here. Financial planner and teacher Rob West goes over it with Mark Biller, the executive editor at Sound Mind Investing. 

  • What's the first item on the checklist?
  • Should you estimating your retirement budget?
  • What about a plan to become completely debt free? 
  • How about determining your living arrangements? 
  • What about estimating your “guaranteed” income and estimating healthcare needs?
  • Finally, should you estimate your investment income?

Next, Rob and Steve answer these questions at 800-525-7000 or via email at Questions@MoneyWiseLive.org:

  • With life-spans lasting longer and education costing more, how do go about saving for retirement?
  • If you're 57 and lost quite a bit of money in your 401(k) in 2008, should you ride it out until retirement or try to recoup the loss somehow? 
  • If you've departed a job and have $2,500 in a 401(k), what should you do with this?
  • At age 50, how do you start a retirement plan?
  • At age 67, have you missed the window on converting a traditional IRA to a Roth IRA?
  • Is there any financial benefit for maintaining debt?
  • Where do you go to find long term care insurance?

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