Retirement-Rules to Live By
If you’re on the verge of retirement or retired already, you may need to play by different rules than you do during your working years. Consider these guidelines to help make the most of your savings and income.
COMMUNICATE. Talk with your spouse about retirement. Even if you aren’t on the same page, meet with your financial advisor to start planning.
MAXIMIZE. Make retirement investing a priority by maximizing your contributions while you’re working and research Social Security options before filing for your benefits.
PROTECT. Update all legal and financial records, particularly anything to do with your estate and beneficiaries. Even in retirement, buy and maintain appropriate insurance coverage.
ORGANIZE. Create a system to make it easy for family to understand your wishes and find important documents.
PLAN. Create a budget and track expenses. Eliminate excessive debt. Review and update your asset allocation to reflect your current goals, inflation expectations and your ability to handle risk. Maintain a substantial rainy day fund to help with unexpected expenses.
SIMPLIFY. Identify income sources and select which accounts to draw from first to minimize taxes. Consolidate your various income streams to make tracking easier.
ENJOY. Ensure you’re psychologically ready for the change of pace; then ease into your new lifestyle!
Are you changing jobs or nearing retirement? Join us for an hour-long complementary seminar to learn about retirement accounts and the choices available to you regarding your employer plan.
Understanding 401(k) Distribution Options and Retirement Accounts
Thursday, June 14, 2018, 5 p.m.
Seating is limited. Please RSVP by calling (405) 737-0006 or enroll for this complimentary seminar online.
TFCU Financial Advisors
6501 Tinker Diagonal, MWC
2nd floor of TFCU Midwest City Branch