Financial Planning Must-Do's Before You Retire Part 1 - Your Money ,Your Wealth® TV S7 | E8

Are you dreaming about the day you will be able to leave your job behind but aren't sure if or even when you will be able to afford to quit your day job? There are some financial planning must-do's you should do before you retire to make sure your finances are in order. Financial professionals Joe Anderson and Alan Clopine guide you on how to crunch the numbers, set a plan for getting out of debt, and how to develop a retirement budget.

Important Points:
(01:10) Financial Planning Must-Do’s
• Develop a Retirement Vision
• Crunch the Numbers
• Develop A Retirement Budget
• Get Out of Debt
• Budget For The Unexpected

(03:04) Must-Do: Develop a Retirement Vision
• How Are You Spending Your Time?
• What Makes You Happy?
• How Is Your Health?
• Where Do You Want To Live?
• Family Relationships?

(05:30) Must-Do: Determiners How Much You Need to Retire
• Current Age & Retirement Target Age
• Plan to Work In Retirement?
• Age You Claim Social Security
• Where Do You Want to Live

(10:06) Must-Do: Crunch The Numbers
• Estimate Annual Expenses
• Add Up Sources of Income
• Calculate the Gap

(10:24) Crunch The Numbers Example

(13:27) Retirement Expenses in Stages
• Transition to Retirement
• Early Retirement
• Later Retirement
• Final Days

(17:16) Must-Do: To Get Out of Debt
• Pay Off Your Highest Cost Debt First
• Refinance Your Mortgage or Payoff
• Downsize to One- Car Family

(19:17) Must-Do: Budget for The Unexpected
• Parental Medical Care
• Emergency Relief for Adult Children
• Big Expenditure
o Car, Boat, Motorcycle
o Vacation
o Second Home

(20:35) Ask the Experts

(23:19) Pure Takeaway
• Develop Your Retirement Vision
• Crunch the Numbers
• Develop A Retirement Budget
• Get Out of Debt
• Budget For The Unexpected

IMPORTANT DISCLOSURES:
• Investment Advisory and Financial Planning Services are offered through Pure Financial Advisors, Inc. A Registered Investment Advisor.
• Pure Financial Advisors Inc. does not offer tax or legal advice. Consult with their tax advisor or attorney regarding specific situations.
• Opinions expressed are subject to change without notice and are not intended as investment advice or to predict future performance.
• Investing involves risk including the potential loss of principal. No investment strategy can guarantee a profit or protect against loss in periods of declining values.
• All information is believed to be from reliable sources; however, we make no representation as to its completeness or accuracy. As rules and regulations change, content may become outdated.
• Intended for educational purposes only and are not intended as individualized advice or a guarantee that you will achieve a desired result. Before implementing any strategies discussed you should consult your tax and financial advisors.
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