The theme this week on the Retirement Quick Tips Podcast is: Listener Case Study: One Year To Retirement. About a month ago, a listener of the podcast emailed me with some questions about her upcoming retirement and this week, I’m addressing the multitude of issues she’s facing as she nears retirement. 

Today, I’m talking about what Monica should do next. Here’s what I would recommend in order of priority: 

1. Make a plan for getting out of her stable value fund, that will have her fully invested in a 40-60% stock allocation over the next 6-12 months. 
2. Calculate the cost of healthcare. Because of her husbands disability and health issues, navigating paying for health insurance is more complicated in Monica’s case, so she’ll need to find out what health care costs are going to be, especially since she’ll be retiring before she’s covered by medicare. 
3. Determine if their income and assets will be able to sustain their spending needs in retirement. I offered my retirement success forecaster, and this type of in depth analysis that looks in detail at your financial assets and income sources to see if that can support a comfortable lifestyle for you in retirement. If you want to go through the retirement success forecaster yourself, just go to truenorthra.com/retirementsuccess
4. Pay off debt before retirement. 

Monica has a few other homework items as well, but these are either dependent on figuring out the above items first, or they’re not as pressing, so I would recommend focusing on the above to do list, and then moving on to selling their rental house, considering where to live in retirement, determining an annual travel budget, and deciding on whether or not she should choose the pension income or the lump sum for the pension she’ll have. 

That’s it for today. Thanks for listening! My name is Ashley Micciche and this is the Retirement Quick Tips podcast. 

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Tags: retirement, investing, money, finance, financial planning, retirement planning, saving money, personal finance