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You've worked hard all your life, now you are approaching retirement. Just because retirement is near, does not mean you should stop planning or saving for the future.  On the contrary, pre-retirement planning is one of the most important taskswhen considering the retirementplanning process. Some general guidelines to follow when preparing for retirement are to adjust your investments for a shorter time span, continue your savings program, determine your retirement income and expenses, explore your options regarding retirement plan distribution, consider long-term care, plan for your beneficiaries, and prepare your estate plan.
Are you worried that you may not have enough saved for your retirement?  Contact a local pre-retirement professional in your area who can assist you with securing your future.

Although investing in riskier options that gave a higher return were adequate for a longer time horizon, now is the time to switch over to safer investments to protect your assets in preparation for retirement.  In addition, you should determine your retirement needs and expenses and create a retirement budget. Also, examine your retirement plan’s distributions and choose one that will provide adequate income during retirement.

Some issues associated with pre-retirement are:

  • Minimize Market Risk
  • Long Term Care
  • Retirement Planning
  • Estate Planning
  • Beneficiary Planning
  • Wills and Trusts
Pre-retirement is a good time to prepare for long-term care for the possibility of you requiring long-term care for illness. Without proper insurance coverage, your finances could be severely weakened and your retirement dreams hampered by mounting health care bills. Purchase long-term care insurance to supplement your existing healthcare coverage and to protect your retirement plan. Lastly, estate planning is a crucial element of any retirement plan; a properly planned estate gives you more control over the distribution of your assets so that the people you choose can benefit from your lifetime of planning and hard work.

Retirement planning is about much more than the size of your savings. Most workers prepare for later life by focusing on if they have saved enough and although anest egg is important, it's just as important to develop a vision for how you want to spend your time in later life. The more precise your plans, the easier it will be to determine just how much money you'll need and how satisfying your retirement years will be.

Do you need help with retirement issues? Contact a financial planner in your area who can help you create a pre-retirement plan in preparation for retirement.