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 During Retirement, What Planning Should Retirees Do Before They Retire Remember that we are talking about planning many years before retirement for your retirement and this section is giving some thought to what you will need after you retire. If, however, you wait to read this until you retire, you will likely not meet many of your goals. What is the primary concept in planning for retirement here? It is to make certain that your calculation for needed income include your retirement years, and that your calculations do not get to age 65 without any consideration of what might happen thereafter. You may find that you need more money after retirement, or less, but if you give it no thought when making your plan, you will have few choices.
Several actions you can take to ensure that your retirement spending years will be covered. First, you can consider the years of your retirement in drafting and considering your goals. Be sure to include the years of 65 through 95, and what money you may spend and from where it will be derived. The second action might be to stash away or accumulate as much money as necessary to cover these years, giving a hefty expense program. The third action is to plan for retirement investing. That may be a novel concept, but one that may be increasingly necessary given the increase in longevity of average lives in retirement.
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