Make Major Purchases Now
Many wealth strategists suggest repairing or replacing expensive items with long lifespans ahead of retirement (e.g. cars and roofs). These recently replaced items can be maintained at a lower cost, with the initial investment being made with your full income intact.
Meet With a Financial Planner
Meeting with a financial planner to review tax strategies and analyze retirement cash flow projectoins can be a valuable experience. Whether you have an existing relationship with a financial planner or not, having conversations about your impending retirement is key.
Turn Hobbies Into Income
The initial thought of working part-time in retirement may be met with internal resistance, but you could consider retiring from your career and expanding a hobby into a meaningful business. There are countless stories where this path is both enjoyable and profitable.