63: Adjust as Needed

New circumstances or life events may change your plan

If the retirement you envisioned does not seem possible now, avoid imagining only the worst case scenario and focus on the positive. There are a variety of actions you can take to improve your circumstances and today's financial environment may differ greatly from when you are ready to retire. A financial change can be an opportunity to adjust and plan for new retirement goals.

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Social Security Estimates

Social Security's website (ssa.gov) features a calculator that can be accessed by anyone with an active Social Security account. This tool can be used to review a record of your lifetime earnings history and estimate your future monthly benefit amount.

Confirm Pension Details

If your current or former employer offers a pension, check with Human Resources to confirm the status of your benefit and talk through any vesting or payout rules that would be in place depending on when you decide to begin taking your pension.

Review Estate Planning

While much of the preparation for Medicare and retirement is focused on you, decisions will have a lasting impact on your family. If you have not done so already, now is the time to update your will and review both power of attorney and beneficiaries.