Are you among the lucky few who will continue to be covered after retirement? If not, you will need to plan for replacement coverage. If you're eligible for Medicare, then check the benefits, and look into "Medigap" coverage as well if necessary.
OTHER TYPES OF INSURANCE:
Once retired, you may need to replace employer-provided life insurance with extra coverage. Consider purchasing long-term health care insurance in case of a lengthy nursing home stay in the future.
Decide if taking early Social Security benefits (age 62) is a good decision rather than waiting until full retirement age. You can get 80% of your benefits at age 62.
COMPANY PLAN PAYOUT:
Plan well in advance how you will take the payout from your pension or 401(k) plan. Know where you want to transfer the funds and how they will be invested.
If you are planning to move to another state, explore the financial and medical ramifications of living there before you move. It can be difficult finding a doctor that will take NEW Medicare patients.
For more information, see the resources page here.
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