Checklist Before Retiring

Retirement plan by nevada benefits

I’ve had the opportunity to work with close to 7000 individuals moving into retirement. That includes close to 1400 one on one coaching calls. We’re going to address a checklist of what needs to be done. This checklist is going to be critically important, and I recommend you print it out and get after it.

When I interviewed and did some surveys on people who had already retired, I asked them what they would do differently if they could go back 12 months before they made that decision. Results showed 29% of those who responded said they wouldn’t have retired. I find this extremely interesting and fascinating.

When I dug deeper into those numbers, what I discovered was those who wouldn’t have retired found meaning and purpose in what they were doing and loved the daily connection with others! When I followed up with others who answered the question differently, they shared they didn’t find their work meaningful anymore but did miss some of their work colleagues. What does this all mean? When you transition into retirement, I think it’s critically important to find a new tribe and commit yourself to something you feel very passionate about. This could mean volunteering or some other type of work. 

 Several studies have confirmed this and below are a few.

Harvard review study on living longer if you work past 65

And another study you’ll live longer if you retire earlier.

Before you put in those retirement papers, I’d like you to consider the following checklist:

1. Continuity of healthcare. This is one of the largest expenses for those going into retirement. Finding doctors is becoming harder and harder, so choosing a plan that takes your doctors is a great first step.  The next step is finding something affordable. Make sure you work with a highly qualified broker who has several options to share with you.

2. Financial Planning. Create a retirement budget and look at income sources. As I write this today inflation was just reported at over 9%. I work with retirees all the time, and no one had this type of inflation in their financial plan. We’re also seeing some fluctuations in the market. Having a flexible budget of expenses that you can eliminate and add back is critically important.  We’ve created a budget spreadsheet here. We also offer a grade 5 module financial plan for clients. Reviewing your portfolio to potentially reduce the volatility is something that’s vital.   Email us for the spreadsheet at and put the subject line: Send me those spreadsheets!

3. Social Security income. This is usually a tax thing, so make sure you consult your tax advisor. Knowing when to start taking Social Security is an art. Each year they raise the monthly benefit you would receive. A lot of this depends on your longevity and how long you think you’ll receive benefits. No one knows. Link to apply for social security

4. Relocate, maybe! According to the blue zones of happiness book, changing your location can add up to 30% more happiness in your life. You can find the book and studies here. Changing your environment or moving closer to the family can be a huge happiness boost!

5 Laugh! Play and laughter have been known to increase health and longevity. See a few studies here. With everything happening around the world, the news can cause dreadful harm to your body. Switching from the news to something fun to watch can not only help you sleep better and will also put a smile on your face! Click this link to read how having a sense of humor adds years to your life.

6. Move your body! Some of the longest living people on the planet, as previously mentioned they called are used to blue zones, have a movement practice daily! Read an article on how to move naturally. Start a good regiment before you retire. This could mean just waking up and taking a 15-to-20-minute walk and the same after dinner. This is a great lifelong habit! 

7. Start to get rid of the clutter. Getting your house in order prior to retirement can open up your house to create something new. Get some tips here.

8. Stay hydrated! Here in Las Vegas, it’s a must with the temperature sitting at 114 degrees today. Coffee is not hydration! Staying hydrated has also been shown to help keep the body healthy and the mind sharp. Click to read more about hydration.

I understand this isn’t the typical checklist you were expecting, but over my 31 years of working with individuals who are making a big transition, these have been hugely impactful.

This list could’ve been 25 pages long. If you have any questions on any of these items, please connect with us. And most of all, enjoy your retirement!

To read more about the Blue Zones Study Guide Click here.

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