• The website where you can set up an account to see all your up-to-date numbers is socialsecurity.gov.
• Claiming your social security at age 62 could be a good send, or a disaster.
• Your full retirement age is based on the year you were born.
• Waiting to age 70 might be best, but not if you starve yourself on the way there!

• Passive investments practice more of a buy and hold strategy.
• Active investments depend on professional money managers to make tactical decisions to grow and protect a portfolio.

• In the accumulation stage, growth should be your major objective and risk takes a back seat.
• In the preservation stage, safety is likely your major objective with growth taking a back seat.
• In the distribution stage, your prior preparation means everything, as in 100%.
• A Riskalyze analysis can help identify your specific internal risk tolerance. 

• Original Medicare is composed of parts A and B and covers hospitals, doctors, durable medical equipment, etc. It covers 80% of approved costs.
• Medicare Supplement, Medicare Advantage and Prescription Drugs Part D plans can be purchased to address many of the additional 20% of the cost.
• Work with a professional who offers all of the various types of plans in order to make sure you have the coverage best suited for your need.

• Pothole #13 - To Move or Not to Move
  • Weigh the reasons to move or stay in California carefully. The $200,000 question might be- Should I stay, or should I go?
• Pothole #14 - Friends become an Issue
  • Enjoy your time with friends while you can, and they are still here. But don't be afraid to say no to activities that might break your bank on your back.

• Pothole #11 - You May Feel Guilty Spending Your Savings
  • 1.Going through the retirement door moves you from the Accumulation Room to the Documentation Room. 
  • 2. You may feel uncomfortable in the new environment. 
• Pothole #12 - You May Not Need What You are Forced to Withdraw!
  • 1. At age 72, you may have more than enough income, especially that you want to pay taxes on.
  • 2. Consider paying the taxes earlier.

Creating a great retirement plan generally does NOT mean deciding which child you want to move in with!

• Pothole #9 - Work may be a part of retirement. Often retirees are employed, and the three major reasons are:
  • 1. Necessity
  • 2. Choice
  • 3. Boredom
• Pothole #10 - You might have to move in with your kids. Three major reasons retirees move in with their children are:
  • 1. Economic necessity
  • 2. Declining heath
  • 3. Loss of a spouse

• Pothole #7 - Living on Social Security alone
  • Prevent the damage! Work as long as you can, save as much as you can, take Social Security as late as you can.
• Pothole #8 - BOREDOM!
  
  • Prevent the damage! Develop a bucket list (maybe 2) and get busy on your list.

• Pothole #5 - Long-term care costs could wipe out your savings.
• • Prevent the damage! You definitely need a plan, but perhaps not a policy.
• Pothole #6 You might not be prepared for high Healthcare costs.
• • Prevent the damage! Evaluate all your options as you leave employment. Re-evaluate as you travel through retirement.

• Pothole #3- Inflation takes a bigger bite than you think.
• • Prevent the Damage! Keeping the investment side of your portfolio in equity (Stocks, Security, Real Estate) position to help grow with inflation.
  •  
• Pothole #4- You might outlive your savings. 
• • Prevent the Damage! Secure your income for life and match your portfolio risk to your personal risk tolerance.