Retirement Savings Stage 3:
    Nearing Retirement (ages 50s & 60s)

At this point, you’ve within 5 years of transitioning to retirement. Most of your saving has already occurred, but there’s still a few years left to continue saving. Your biggest tasks now involve protecting your nest egg, deciding when to retire and to formulate your retirement income plan. It’s extremely important to know when you have saved enough to fund your retirement for the rest of your life…or else be prepared to delay retirement a few years or scale back on your income needs. It’s vitally important to have a plan to pay for your healthcare needs at this time.

Retirement Home Nearing Retirement Helen
Helen, 58,  figures to be within five to ten years of being able to retire comfortably, but she’s just not sure. She doesn’t want to retire until she feels very confident that she’ll have enough money to last. Using some sophisticated retirement planning software, her advisor created a plan that shows Helen will be able to retire in 4 years with a 95% confidence level that she’ll meet her income needs over her lifetime. She has also purchased long term care insurance now while she is younger, in good health and the premiums are very affordable.
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