Step #4—Retirement Preparedness Checklist: Put Away 12 Months of Expenses in an Emergency Fund

Harold Wilson, former British Prime Minister joked, “I am an optimist, but I’m an optimist who carries a raincoat.” You probably already have some cash stored away for the inevitable rainy day. Indeed, you should have savings for those one-time, non-recurring expenses that come up—a water heater replacement, a roof repair, the auto insurance deductible—but this savings should actually be …

Step #3—Retirement Preparedness Checklist: Get Rid of All Bad Debt

“What I am about to share,” Dr. DuBois replied, “you would do well to write on your heart and place in your purse. Many a ruined man dates his downfall from the day he began buying what he did not need. If you are in debt, part of you belongs to your creditors. To whom you give your money, you …

Step #2 – Retirement Preparedness Checklist: Insure Risks You Cannot Afford to Take

One of my clients, a physician, when discussing insurance, said to me, “We’re all just one step away from the banana peel.” She would know better than most. While it’s not particularly pleasant to think about becoming sick or needing assistance, healthcare and long-term care costs pose very real risks to your retirement nest egg. Can you afford to chance …