Retire NC 2024 - 45

isn't necessary; the key is consistency.
2. Evaluate changing expenses: Identify
expenses that will decrease post-retirement
(like work-related costs) and new
ones that may arise (such as health insurance,
travel or new hobbies).
3. Project retirement income: Assess
your Social Security benefits, work retirement
plan projections and other savings.
Consider consulting a financial planner for
a comprehensive overview.
4. Reassess investment risk: As retirement
nears, evaluate the risk level of your
investments. Some target date funds may
become more conservative than you need,
while others might be too aggressive for this
stage in your life. Everyone's growth needs
and comfort levels with risk are different.
5. Monitor spending trends: Track your
spending for 6-12 months after retirement
to establish a realistic long-term budget,
as so much can shift when you start retirement
that your spending in the first few
weeks to months may not be realistic for a
longer term budget.
6. Address psychological impacts:
While there are many positives to retiring,
challenges such as identity shifts and the
anxiety of spending your savings can arise.
If you want a third party's help, there are
financial therapists available to navigate
this time.
7. Consider responsible investing: If you
haven't explored sustainable, responsible
and impact investing due to a busy work
schedule, retirement is an ideal time to
reassess your investment alignment with
your values. There are resources available
to help you invest responsibly and make a
positive impact.
You might also consider the following
broad-based examples of advice:
Assess Income and Expenses. Iden45

https://www.marielsells.com/

Retire NC 2024

Table of Contents for the Digital Edition of Retire NC 2024

Retire NC 2024 - Cover1
Retire NC 2024 - Cover2
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Retire NC 2024 - Cover3
Retire NC 2024 - Cover4
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