{"id":260240,"date":"2021-05-27T12:04:00","date_gmt":"2021-05-27T09:04:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/5-steps-to-help-you-ease-into-retirement\/"},"modified":"2021-05-27T12:04:00","modified_gmt":"2021-05-27T09:04:00","slug":"5-steps-to-help-you-ease-into-retirement","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/5-steps-to-help-you-ease-into-retirement\/","title":{"rendered":"#\n  5 steps to help you ease into retirement"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a34c541703b7\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a34c541703b7\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/5-steps-to-help-you-ease-into-retirement\/#Theres_a_lot_to_think_about_Do_you_know_what_to_do_with_your_time_Will_you_be_comfortable_drawing_on_your_savings\" >There\u2019s a lot to think about: Do you know what to do with your time? Will you be comfortable drawing on your savings?<\/a><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><ul class='ez-toc-list-level-6' ><li class='ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/buradabiliyorum.com\/en\/5-steps-to-help-you-ease-into-retirement\/#Take_stock_of_your_situation\" >Take stock of your situation<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/buradabiliyorum.com\/en\/5-steps-to-help-you-ease-into-retirement\/#Understand_the_coming_life_change\" >Understand the coming life change<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/buradabiliyorum.com\/en\/5-steps-to-help-you-ease-into-retirement\/#Adjust_from_saving_to_spending\" >Adjust from saving to spending<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/buradabiliyorum.com\/en\/5-steps-to-help-you-ease-into-retirement\/#Build_an_income_stream\" >Build an income stream<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-6'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"https:\/\/buradabiliyorum.com\/en\/5-steps-to-help-you-ease-into-retirement\/#Look_after_your_health\" >Look after your health<\/a><\/li><\/ul><\/li><\/ul><\/li><li class='ez-toc-page-1 ez-toc-heading-level-4'><a class=\"ez-toc-link ez-toc-heading-7\" href=\"https:\/\/buradabiliyorum.com\/en\/5-steps-to-help-you-ease-into-retirement\/#Tiffany_Lam-Balfour\" >Tiffany Lam-Balfour<\/a><\/li><\/ul><\/li><\/ul><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong>#<br \/>\n  5 steps to help you ease into retirement<br \/>\n<\/strong>&#8221;<\/p>\n<h2 class=\"article__subhead\" itemprop=\"alternativeHeadline\"><span class=\"ez-toc-section\" id=\"Theres_a_lot_to_think_about_Do_you_know_what_to_do_with_your_time_Will_you_be_comfortable_drawing_on_your_savings\"><\/span>\n  There\u2019s a lot to think about: Do you know what to do with your time? Will you be comfortable drawing on your savings?<br \/>\n<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p><\/p>\n<div class=\"column column--full article__content\">\n<div class=\"article__side\">\n<div class=\"container--sticky not-active\">\n<div id=\"cx-next\">\n              <\/div>\n<\/p><\/div>\n<\/p><\/div>\n<div id=\"js-article__body\" class=\"article__body article-wrap at16-col16 barrons-article-wrap\" itemprop=\"articleBody\" data-sbid=\"WP-MKTW-0000279541\">\n<div class=\"barrons-article-ad-wrapper\">\n<div data-track=\"barrons-article-ad-wrap\" class=\"barrons-article-ad sticky_item\">\n<div class=\"barrons-main-article-ad-target sticky_target body_ad\" aria-hidden=\"true\"><\/div>\n<\/p><\/div>\n<\/p><\/div>\n<p>       <em>This <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nerdwallet.com\/article\/investing\/transition-into-retirement?utm_campaign=ct_prod&amp;utm_source=syndication&amp;utm_medium=wire&amp;utm_term=anne-stanleymarketwatch-com&amp;utm_content=1000219\" class=\"icon none\"><em>article<\/em><\/a><em> is reprinted by permission from <\/em><a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nerdwallet.com\/blog\/?utm_campaign=ct_prod&amp;utm_source=syndication&amp;utm_medium=wire&amp;utm_term=anne-stanleymarketwatch-com\" class=\"icon none\"><em>NerdWallet<\/em><\/a><em>.\u00a0<\/em><em>This article provides information and education for investors. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks or securities.<\/em><\/p>\n<p> Many of us work and save our entire careers in hopes of achieving a relaxing, comfortable life during retirement. However, the actual process of transitioning into retirement can bring about stress and worry.<\/p>\n<div class=\"paywall\">\n       It doesn\u2019t have to be that way \u2014 being prepared can ease you into this new stage of life and help you get ready for any upcoming changes. Having goals for retirement and tracking your progress toward those goals are important throughout your life but become increasingly more crucial as retirement nears.<\/p>\n<h6><span class=\"ez-toc-section\" id=\"Take_stock_of_your_situation\"><\/span><strong>Take stock of your situation<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p>As life expectancy increases, the time you spend in retirement can begin to rival the time you spend working and saving for retirement.<\/p>\n<p>\u201cTo prepare for the transition to retirement, a financial planning review is essential to understand how all of the pieces come together \u2014 how are you positioned for retirement, what your options are, what lifestyle can you afford, when can you afford to retire, how conservative can you afford to be with investing your retirement savings, what pot would you draw from first,\u201d says Cynthia Turoski, managing partner at Bonadio Wealth Advisors in Albany, New York.<\/p>\n<p>\u201cDecisions and actions you take early on can impact you im<a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">media<\/a>tely or down the road, and you might not see that impact until it\u2019s too late. It\u2019s better not to guess,\u201d she adds.<\/p>\n<p>During the review process, you\u2019ll want to stress-test how your\u00a0retirement planning\u00a0pans out under varied market environments and in different situations, such as a change to your\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nerdwallet.com\/article\/investing\/planning-to-work-into-your-70s-why-you-need-a-plan-b-too?utm_campaign=ct_prod&amp;utm_content=1000219&amp;utm_medium=wire&amp;utm_source=syndication&amp;utm_term=anne-stanleymarketwatch-com\" class=\"icon none\">retirement age<\/a>\u00a0or life expectancy.<\/p>\n<p>If you learn you can reach your goals, you\u2019ll gain peace of mind. If not, revisiting plans and weighing trade-offs can help you find tweaks to make it work, Turoski says.<\/p>\n<h6><span class=\"ez-toc-section\" id=\"Understand_the_coming_life_change\"><\/span><strong>Understand the coming life change<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p>Beyond the financial, there are psychological and emotional aspects to think through.<\/p>\n<p>\u201cAll the focus in preparing for retirement is usually evaluating whether someone has enough money to retire,\u201d says Philip Lubinski, retirement income specialist and founder of IncomeConductor, a retirement planning software company in Hartford, Connecticut.<\/p>\n<div id=\"cx-membership-tile\"><\/div>\n<p>But Lubinski says he has worked with clients who weren\u2019t emotionally ready to retire, even if they were financially able to do so.<\/p>\n<p>\u201cYou can only play so much golf or go fishing. How will you fill the rest of the time? For many preretirees, their work is what gives them a sense of purpose and value,\u201d he says. \u201cThose emotional needs must be replaced by something else other than work in retirement.\u201d<\/p>\n<p><strong>Read:<\/strong> Seniors say this one thing \u2014 by far \u2014 is the definition of a life well-lived<\/p>\n<h6><span class=\"ez-toc-section\" id=\"Adjust_from_saving_to_spending\"><\/span><strong>Adjust from saving to spending<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p>Changing your mind-set from saving for retirement to spending in retirement can be a challenge, both psychologically and financially.<\/p>\n<p>Namely, you\u2019ll want to consider how you\u2019re balancing risk, as well as strategies that can prevent you from having to pull money out of investments when the stock market is down. Selling at a low, especially early in retirement, can significantly reduce what\u2019s left to fund your remaining years.<\/p>\n<p>One idea: allocating a portion of your portfolio to cash or fixed-income investments from which you can draw to cover expenses without selling equities in a down market, says Matt Masterson, partner and wealth adviser at RegentAtlantic in Morristown, New Jersey.<\/p>\n<p><strong>See:<\/strong> How much should you withdraw from your 401(k)?<\/p>\n<p>As for how much risk you\u2019re taking overall, you\u2019ll likely want to tone down risk as you move through retirement, but it\u2019s important not to overdo it.<\/p>\n<p>\u201cMaking the portfolio too conservative will expose retirees to inflation risk that a conservative portfolio will not address,\u201d says Lubinski of IncomeConductor.<\/p>\n<h6><span class=\"ez-toc-section\" id=\"Build_an_income_stream\"><\/span><strong>Build an income stream<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p>You may no longer receive a regular paycheck, but income still plays an important role during retirement.<\/p>\n<p>\u201cNot having a paycheck can impact your psyche and willingness to spend in retirement. Suddenly, every purchase may cause doubt and second-guessing,\u201d Masterson says.<\/p>\n<p>You can establish a monthly income stream through your investment plan to mimic getting a paycheck.<\/p>\n<p>\u201cMake sure you are targeting the right amount of income needed,\u201d Lubinski says, by evaluating your expenses thoroughly. He suggests including expenses that might start later in retirement or change over time for reasons other than inflation.<\/p>\n<p><strong>Learn more:<\/strong> When and how will I retire? 3 strategies to get you there<\/p>\n<p>Consider not just your investment portfolio but other building blocks for income, including\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nerdwallet.com\/article\/investing\/maximum-social-security-benefit?utm_campaign=ct_prod&amp;utm_content=1000219&amp;utm_medium=wire&amp;utm_source=syndication&amp;utm_term=anne-stanleymarketwatch-com\" class=\"icon none\">Social Security<\/a>, pensions and annuities. Keep in mind that where and how you draw income has tax implications in retirement, so it may be worth working with a financial or tax adviser to help tailor a strategy for your situation.<\/p>\n<h6><span class=\"ez-toc-section\" id=\"Look_after_your_health\"><\/span><strong>Look after your health<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h6>\n<p>Good health is key to a successful retirement. It allows you to remain active and enjoy your retirement years, but it can also help cut costs.<\/p>\n<p>One of the greatest unknowns in retirement planning is the impact of health care expenses. As you move toward retirement, understanding and planning for potential long-term care costs, which are typically not covered by Medicare, becomes increasingly important.<\/p>\n<p><strong>See<\/strong>: 6 ways to keep health care costs from eating up your retirement savings<\/p>\n<p>It may also be wise to\u00a0<a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nerdwallet.com\/article\/investing\/how-to-choose-a-financial-advisor?utm_campaign=ct_prod&amp;utm_content=1000219&amp;utm_medium=wire&amp;utm_source=syndication&amp;utm_term=anne-stanleymarketwatch-com\" class=\"icon none\">engage a financial adviser<\/a>\u00a0while you\u2019re in good health, says Lubinski. Not only can they walk you through these complicated health care and insurance decisions, but you\u2019ll have someone on your side for the long term.<\/p>\n<p>\u201cAt some point, all retirees begin losing their financial acumen and may not make wise decisions,\u201d he says. \u201cHaving an adviser on board at the beginning of retirement can give retirees comfort knowing their survivors will have someone to turn to who is trusted.\u201d<\/p>\n<p><strong>More From NerdWallet<\/strong><\/p>\n<ul class=\"articleList\">\n<li>\n      <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nerdwallet.com\/article\/investing\/biden-capital-gains-tax?utm_campaign=ct_prod&amp;utm_source=syndication&amp;utm_medium=wire&amp;utm_term=anne-stanleymarketwatch-com&amp;utm_content=1000219\" class=\"icon none\">Would Biden\u2019s Capital Gains Tax Hike Affect You? Probably Not<\/a><\/p>\n<\/li>\n<li>\n      <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nerdwallet.com\/article\/investing\/what-are-spacs?utm_campaign=ct_prod&amp;utm_source=syndication&amp;utm_medium=wire&amp;utm_term=anne-stanleymarketwatch-com&amp;utm_content=1000219\" class=\"icon none\">Miss the Boat on SPACs? It May Be for the Better<\/a><\/p>\n<\/li>\n<li>\n      <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.nerdwallet.com\/article\/investing\/what-to-do-with-extra-money?utm_campaign=ct_prod&amp;utm_source=syndication&amp;utm_medium=wire&amp;utm_term=anne-stanleymarketwatch-com&amp;utm_content=1000219\" class=\"icon none\">What to Do With Extra Money<\/a><\/p>\n<\/li>\n<\/ul>\n<p><em>Tiffany Lam-Balfour writes for NerdWallet. Email: tlambalfour@nerdwallet.com.<\/em><\/p><\/div>\n<\/div><\/div>\n<p><\/p>\n<div class=\"byline article__byline\">\n<p>      <span>By<\/span><\/p>\n<div class=\"author  hasMenu\" data-scrim='{\"type\":\"author\",\"header\":\"Tiffany Lam-Balfour \",\"subhead\":\"The Wall Street Journal\",\"list\":[]}' itemscope itemprop=\"author\" itemtype=\"http:\/\/schema.org\/Person\">\n<h4 itemprop=\"name\"><span class=\"ez-toc-section\" id=\"Tiffany_Lam-Balfour\"><\/span>Tiffany Lam-Balfour <span class=\"ez-toc-section-end\"><\/span><\/h4>\n<\/p><\/div>\n<\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/news\/\" target=\"_blank\" rel=\"noopener\">News category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"http:\/\/www.marketwatch.com\/news\/story.asp?guid=%7B20C05575-04D4-B545-7443-F5DE69D2ED61%7D&#038;siteid=rss&#038;rss=1\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# 5 steps to help you ease into retirement &#8221; There\u2019s a lot to think about: Do you know what to do with your time? Will you be comfortable drawing on your savings? This article is reprinted by permission from NerdWallet.\u00a0This article provides information and education for investors. NerdWallet does not offer advisory or brokerage&#8230;<\/p>\n","protected":false},"author":1,"featured_media":260241,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[70897],"tags":[],"class_list":["post-260240","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/260240","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=260240"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/260240\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/260241"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=260240"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=260240"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=260240"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}