Episode 21: "10 Things You Need to do When You Are 5 Years Away form Retirement"

A successful retirement requires both proper planning & strategic moves. In today’s show, Tom & Kristin discuss the 10 things you need to do when you’re 5 years away from retirement. This is a “don’t miss” show packed with information that will help determine your next steps, so be sure to check it out so you can ease into retirement! Jump to a segment using the 𝘁𝗶𝗺𝗲𝘀𝘁𝗮𝗺𝗽𝘀 𝗯𝗲𝗹𝗼𝘄! 👇  TIMESTAMPS 00:00 10 Things you need to do when you are 5 years away from retirement. 04:10 Retirement can seem overwhelming. 06:32 #1 Create a plan. 10:34 #2 Build an emergency fund. 11:35 #3 Maximize Your retirement account. 14:00 #4 Decide what to do with your home. 17:55 #5 Eliminate debt. 20:16 #6 Update your estate plan. 21:50 #7 Create a retirement budget. 22:50 #8 Consolidate your “stuff”. 24:00 #9 Build your bucket list. 24:38 #10 Go have fun. Celebrate your retirement. 27:50 The silent killer of your retirement: Inflation 29:45 How inflation rate is adjusted within 4 categories (Food/Fuel & Healthcare/Housing). 32:20 How to manage inflation on a fixed income? 42:40 Listener Questions: How to create a long-term care financial plan? 46:46 Listener Questions: Can I retire in my early 50’s?
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