Where to begin on such a big and important subject? Perhaps the easiest way to begin is to consider your answer to these two basic questions:



Where to begin on such a big and important subject? Perhaps the easiest way to begin is to consider your answers to these two basic questions:

First, look at your current situation from an expense perspective. On one hand, while you’re no longer working, you may begin saving money on transportation and maintenance, wardrobes and materials, and business trips and meals, etc. Add up these new-found savings, and they may be enough to pay for the additional healthcare expenses you’ll have to incur to supplement your basic Medicare coverage. Healthcare will become and remain your biggest cost in life, and will only increase over the years.

Next, look at your overall financial situation. What kinds of “qualified accounts” like 401K’s, IRA’s, pensions, etc. have you accumulated? What kind of “non-qualified” accounts like bank savings, Social Security and investment income do you also have? Learn the most important financial facts about which kinds of accounts to draw on first, and which should be used last. Failure to make the right spending decisions can be devastating to your financial future. Call us for help at 317-559-2140.


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