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Advertiser Sunrise Financial Services: What Not To Put Off For Retirement

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BTB Advertiser Sunrise Financial Services wants our Readers to know about the “6 Things Not To Put Off If Retirement Is On the Horizon”:

by Janice Hammond, Financial Advisor, Sunrise Financial Services

We meet with new clients all the time that are within a couple years of when they want to retire, yet they have never met with a professional financial planner. Here are some of the things we do, or suggest doing in our meetings:

  • Buying Long Term Care. There have been changes to the Pension Protection Act that have changed the LTC arena-for the better. With new asset based products, you no longer need to worry about “not using it, and losing it”. Also, many options let your LTC income come to you TAX FREE.
  • Refinance your mortgage, if you have one. Waiting until after you retire could greatly impact your ability to qualify.
  • Realistically determine what you will be doing in retirement. How much will your spending habits change? What are your short and long term goals? Will your health care costs be going up?

    Janice Hammond of Sunrise Financial Services.

  • Increase liquid reserves. There can be other options besides a savings account for this, and it’s important to keep future inflation in mind when determining a sufficient investment vehicle. If you’re not earning more than inflation, your money is going backward in value.
  • Give your investment strategies a “tune up”. You should be reviewing your investment strategies on a regular basis but, especially if you’re nearing the end of one life phase (accumulation) and transitioning into another (distribution). These are 2 very different phases and should be handled accordingly.
  • Review your estate plan, will and trusts and make sure your designated beneficiaries are up to date.

These are just a handful of the things that need to be considered during this important transition. You have saved and planned for this moment most of your life, this is the time to measure twice and cut once. If you or someone you know would like a professional pre-retirement review, contact Sunrise Financial Services.

Janice Hammond is a registered representative of and offers securities and advisory services through Madison Avenue Securities, Inc (“MAS”) a registered investment advisor, member of FINRA & SIPC. MAS is not affiliated with Sunrise Financial Services, LLC.

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