Thinking about retirement? What you should know and do now

Thinking about retirement? What you should know and do now -forward to not having to go to work anymore? Travel planning in remote locations or plan a lifetime options learning? Perhaps you even think about these ambitions, a long time ago and I was wondering if you can turn them into reality?Retirement can be a wonderful opportunity to make the most of your next stage of life, but it requires advance planning so that you have the necessary financial resources to achieve your goals and follow your dreams . Even if retirement is more than just a few years away, you still need to start the process now, to make sure everything is in place.The next week is planning Week NZS 2013 (April 8 to 12), the perfect time to do some serious pre-retirement planning to assess if you are ready when the time comes. (?! Already retired It is not too late to evaluate your situation and make changes) Here are some areas to assess: Your Finances: Do you know how much money you have available and how much you will need to live? While you can take Social Security at age 62, waiting until you are 70 might make more financial sense. You will receive the same amount of lifetime benefits in both cases, but the monthly benefit amounts can vary greatly depending on your retirement age, according to the Social Security Administration. Work a few years can lead to a stronger financial position.Regarding the calculation of your post-retirement costs, the National Retirement Planning Coalition cites rising inflation, rising taxes and market uncertainties that only three factors can have a negative impact on your budget. And, if you retire with significant amounts of debt, you might end up having to return to work just to make ends meet. Improve your financial situation now while you still have an income can make your retirement years easier on your wallet. (More tips are available at SmartMoney of "How to set a retirement budget.") Your insurance coverage: Is it enough amount of your life insurance benefit provide for your spouse or partner upon death unexpectedly? what about long-term care that you have enough assets for you both to cover the costs? and you know what Medicare covers and it is not

• life insurance: If you have a mortgage, other financial obligations, or a family member dependent on you for support, life insurance can fill the financial gap when you die. According to the plan, you may also be able to tap into it in the case of a diagnosis of terminal illness. (I do not know how much you need life insurance Use life needs calculator and compare the results with the amount of your current policy ?.)
• care insurance long-term: While you want to remain independent as long as possible, chances are that at some point you will need an assistance measure which could mean hiring a help home health care or moving to an assisted living facility or nursing home. However, health insurance only covers doctors and hospital bills. Medicare covers just short-term skilled nursing home care and Medicaid only play if your assets are very limited. A long term care policy can ensure that you receive the level and type of care you need. (For more information, visit the page of care insurance long life.)
• Health insurance: It is true that you can register for health insurance coverage to 65, even if you're not ready to retire, (which could prevent you from being charged higher premiums), you will most likely want to purchase additional Medicare or Medigap policy to supplement your coverage and pay Medicare spending does not cover. (Visit Medicare.gov for details.)

With the retirement potentially lasting 30 years or more, you want to make sure you do not outlive your money. Consult your financial planner and insurance professional for advice on building your pre-retirement position so that you will be able to enjoy your later years in employment.