Welcome to retirement! Your 60s are about transitioning to retirement income, enrolling in Medicare, optimizing Social Security, and enjoying the freedom you've earned. Live well while protecting what you've built.
Optimize your retirement years and ensure financial security throughout your 60s
Missing your Medicare enrollment window triggers lifetime penalties. Enroll during your Initial Enrollment Period (3 months before, month of, and 3 months after 65th birthday).
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Most should wait until 70 for maximum benefit (8% increase per year from Full Retirement Age). Only claim early if health issues or immediate need.
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Use 4% rule as starting point: Withdraw 4% of portfolio year 1, adjust for inflation annually. This historically sustains portfolios for 30+ years.
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RMDs begin at age 73. Failure to withdraw triggers 50% penalty on the amount you should have withdrawn. Plan ahead to minimize tax impact.
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Target 40-50% stocks, 50-60% bonds/cash. You still need growth for 20-30 year retirement, but can't afford major losses early in retirement.
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Ensure your wealth transfers smoothly to heirs. Update documents every few years and after major life events.
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You worked hard for this—don't die with millions in the bank. Research shows retirees are happiest when they spend on experiences, especially in early retirement years.
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If philanthropy matters to you, strategic giving can maximize impact while providing tax benefits.
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Get a PDF version of this checklist to track your retirement transition.
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