How to Protect Your Wealth Before Retirement

What should you do with your money when retirement is only a few years away?
As you get closer to retirement, the focus shifts from building wealth to protecting the wealth you've accumulated. This stage requires a different financial strategy, from maximizing retirement contributions and creating a mortgage payoff plan to protecting your personal information, freezing your credit, stress testing your retirement plan, and preparing for healthcare costs.
This episode also covers what to consider once you are retired, including creating a withdrawal strategy, optimizing Social Security timing, managing sequence of returns risk, planning for healthcare expenses, and making sure your portfolio can support a longer retirement.
For anyone going through a major financial transition such as divorce or becoming widowed, having a clear financial inventory, updating beneficiaries, rebuilding an emergency fund, and avoiding major financial decisions during an emotional period can also be critical.
This clip is for anyone who wants to:
• Prepare financially for retirement
• Protect their retirement savings
• Build a retirement income strategy
• Understand retirement withdrawal planning
• Prepare for healthcare costs
• Navigate major financial transitions
• Build a stronger long-term financial plan
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What is the biggest financial move you are making to prepare for retirement? Share your biggest takeaway in the comments, and subscribe for more practical money and investing advice.
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