Retirement: How to Achieve Your Financial Goals

Preparing for Retirement Discuss your options Prepare personal data record Obtain support and advice

How to Live on Less Invest wisely oEquities oReinvest First tap taxable accounts

How to Live on Less Reduce housing costs oDownsize oSeek a lower cost of living Trim expenses now Be creative Reverse your mortgage

How to Live on Less Lower leisure expenses Get a job Reduce healthcare costs oMedicare oGeneric drugs

Know Retirement Plan Options Defined benefit plan oSpecified monthly benefit oFederally protected Defined contribution plan oNo specified benefit oValue fluctuates

Identify Retirement Plan Options Simplified Employee Pension Plan Profit-Sharing plan 401(k) Plan Employee Stock Ownership Plan Money Purchase Pension Plan Cash Balance Plan

How Do Variable Annuities Work? Issued by insurance company oCarefully review prospectus oCompare benefits/costs oCheck investments

How Do Variable Annuities Work? Characteristics of variable annuities oPeriodic payments oDeath benefit oTax-deferred Tax-free 1035 exchanges

Where Will You Live? Will you move? Consider lifestyle questions Consider privacy issues

Where Will You Live? Assisted-living facilities oPrimarily social oLicensed or unlicensed oWide cost range Nursing homes oPrimarily medical care oExpensive

Long-Term Care Insurance Purchase before 60-years-old Consider benefit/elimination periods Consider costs and Check benefit payout rate

Understanding Medicare Most people eligible at 65 Two parts oHospital insurance oMedical insurance Medicare Advantage Prescription drug benefit

Understanding Medicare Medicare Part A oCovers hospitalization oRequires no premium at age 65 oEligibility  Receiving Social Security  Or worked for government

Understanding Medicare Medicare Part B oCovers other medical costs oRequires premium Medicare Part C

Understanding Medicare Medicare Part D oRequires premium oPays 75% of initial drug costs oHas a gap oPays 95% over $5,100

Understanding Medicare Some expenses not covered oPhysical exams oDental care oHearing aids oEye care oCustodial care

Understanding Medicare Medicare HMOs Other considerations oBenefits and costs oDoctors and hospitals oQuality of care

Plan Ahead for Health Care Living will Durable power of attorney Do Not Resuscitate order

Handling Disposition of Estate Estate planning oMinimizes tax consequences oNeeded if worth $1.5 million or more oEnsures how assets are disposed

Reducing Taxes on Your Estate Make annual gifts Shield property Use trusts Make charitable gifts Fund a life insurance trust

Thank You!