Preparing for Retirement

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Preparing for Retirement
Gregory Merritt, CFP
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Get rid of debt
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Understand how taxes will effect your retirement
income
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Prepare a retirement budget
know how much money you will need
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Find a compatible advisor
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Make your investments more conservative
Growth Income Funds
Growth Mutual Funds
REITs
Bonds
Speculative Stocks
Sector Funds
CDs
Annuities
Aggressive Stocks
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Maximize contributions to your retirement accounts
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Utilize catch-up contributions
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Maybe a Roth IRA is right for you
Roth? IRA? 401(k)?
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Consider establishing a self directed IRA
Work
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Taking withdrawals from IRA before you are age 59
½
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Be ready for the unexpected in retirement
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Know your health insurance options
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Consider long-term care
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Dont become a bank
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Make a commitment to yourself NOT to spend your
principal during retirement
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Enjoy your retirement!