10 Steps to Retirement- narrated

Create a Retirement Budget

Decide When to Claim Social Security

Create a Retirement Budget

Decide When to Claim Social Security

Bottom Line = Deciding when to start collecting Social Security will determine how much you’ll get in monthly benefits.

Action Item = Use the AARP Social Security Benefits Calculator at www.aarp.org/socialsecuritybenefits and Social Security Q&A tool at www.aarp.org/ssqa to help you make an informed decision.

Prepare For The Unexpected

Bottom Line = Know how much money is coming in, how much it will cost to support your retirement goals and how much debt you have.

Action Item = Use the AARP Retirement Calculator at www.aarp.org/retirementcalculator to plot a retirement-saving strategy.

Bottom Line = Consider how you would deal with major events now so you won’t get caught off guard later.

Find New Ways to Cut Expenses

Action Item = Complete the self-assessment quizzes and utilize the calculators and other resources from AARP’s Decide.Create.Share. campaign at www.aarp.org/decide.

Evaluate Your Health…Now

Bottom Line = To get the most out of your retirement, make a commitment now to living a healthy lifestyle.

Action Item = Visit our Health Care Costs Calculator at www.aarp.org/healthcostscalc to estimate your health costs in retirement and learn about ways to improve your health.

Find New Ways to Cut Expenses

Bottom Line = Cutting expenses and debt now will always make you more prepared.

Action Item = Start by listing all of your bills, categorize them as necessities versus luxuries and then figure out ways to trim them. Check out www.aarp.org/savingschallenge.

Evaluate Your Health…Now!

Decide How Much You Want (or Need) To Work

Take Stock of Your Assets

How much do you want (need) to work?

Bottom Line = Deciding how much you want/need to work in retirement is an important part of determining your retirement.

Action Item = Make a list of all your hobbies, passions and skills. Then start thinking about how you can morph them into money-making endeavors.

Define Your Retirement

Network Through Social Media and Other Means

Bottom Line = Being specific and setting realistic goals will help make your perfect retirement more attainable.

Action Item = Write your objectives down, and focus on your top five goals. Keep a scrapbook or start a journal depicting how you envision your retirement.

Define Your Retirement

Stick to Your Plan

Bottom Line = We are creatures of habit and it’s common to revert to old habits after trying a new course.

Action Item = Connect with others going through the same life changes and communicate with your loved ones. AARP’s Retirement Possibilities online community can help.

AARP Resources

Ready for Retirement?

It’s not all about the Benjamins

AARP’s 10-step approach

www.aarp.org/readyforretirement

www.aarp.org/socialsecuritybenefits

www.aarp.org/retirementcalculator

www.aarp.org/SSQA

www.aarp.org/healthcostscalc

www.aarp.org/orderfinancialpubs

10 Steps to Retirement

Summary

• Define your Retirement
• Take Stock of Your Assets
• Evaluate Your Health...NOW
• Decide When to Claim Social Security
• Create a Retirement Budget
• Prepare for the Unexpected
• Find New Ways to Cut Expenses
• Decide How Much you Want (or Need) to Work
• Network Through Social Media and Other Means
• Stick to Your Plan

Disclaimer

This workshop is intended to be informational and educational and DOES NOT constitute investment, tax or legal advice. We strongly recommend that you seek the advice of a tax, legal and financial services professional before making decisions related to any investment or other financial decisions. AARP is not responsible for the consequences of any decisions or actions taken in reliance upon or as a result of the information provided during this event.

Thank You for watching and be sure to keep up with AARP in your community at aarp.org/nd.