How To Prepare For Retirement

How to Prepare for Retirement has 7 steps to consider in those crucial final years before taking that huge hit to your income.

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7 Things to Do in the 5 Years before Retirement
Clarify your desired lifestyle so you can prioritize expenses
Really nail how much it costs you to live each month- include annual expenses
Adjust your expenses to align with step 1 for desired lifestyle and retirement changes, like health care expenses or travel
See if there is a gap between Step 3 and current investment income you’re able to achieve considering your available retirement accounts And/OR traditional retirement WD
Go ahead and address the gap by increasing the amount you can WD by increasing your investment returns and or lowering your investment fees, and or with 1 or more income stream, skill based or investment based – learn new skill, increase investment return
Start thinking about when you want to begin taking social security or if you can delay social security if you will have other retirement income, possibly from income generating assets or alternative investments
See what the options are with your 401K if you have one, start thinking about if you want to roll it into an IRA, and where, and increase your investing skills so you know how to optimally invest it. I invest ETF portfolios, for example, and many retirement accounts have restrictions on the ETF’s that can be bought.

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Retire Certain is about our alternative retirement plan and strategies from income generating assets and wealth building in our late 40s, 50s and 60s after stumbling into early retirement.

I am not trying to sell you wealth management services like many financial education channels. While I do hold a current AFC certification, my work is based on my own research and 4 decades of investing experiences in stocks, selling covered calls, real estate, online business, and diversified defensive ETF portfolios.

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Nothing in this video is meant to be taken as personal financial advice.

Camille Gaines, AFC
Wealth coach
Accredited Financial Counselor

[RetireCertain]

What are the steps you have taken to prepare for retirement?

[laurelharper]

This is my fifth year after retirement. I’ve been following the 4% rule thing, but this isn’t really how hard I expected things to be. I still have about $460k outside funds in my IRA to invest in stocks. Pls how do I take advantage of the market turnaround?

[bestcrappie]

Great video, but you didn't mention anything about paying off debts. Most people can get highest returns for thier cash by simply get out of or staying out of debt.

[Drostvideo]

Hi Camille...Is it better to take Social Security at age 67 (my current age) or 70? If I take it now I would get about 40K by age 70 which I could invest even though I don't absolutely need it because I still work. If I wait till 70 I would make back the 40K by the time I'm 90. I'm leaning towards taking SS at 67 but want to get your take on it. Thx.

[DenzelNapoleonRodriguez]

I like your material just found your channel.

[AntonioBianh]

High prices for everything have severely affected my plan. I'm concerned if people who went through the 2008 financial crisis had an easier time than I am having now. The stock market is worrying me as my income has decreased, and I fear I won't have enough savings for retirement since I can't contribute as much as before.

[bheeastrom]

If bitcoln fails to climb above the $48, 000 and $48, 150 resistance levels, it could start a downside correction.

[NSPresbyterian]

Considering I am unmarried, no kids, no close family, and my friends are either more than 10 years older or younger tha n I an...even though I have 630k, I may not retire. Just because I have no one to do anything with.

[geurygerman]

What are your thoughts on covered call etfs. Like qyld