2nd Quarter 2019

Exercise Your Financial Independence

Bus DriverIndependence Day is a great time to take stock of your financial independence. As you progress in your career and life, your vision for retirement may come into sharper focus. That’s why it’s a good time to reassess your progress in meeting financial goals. The following resources and tools can help.

The 10 Question Retiree Guide (www.icmarc.org/10questions) brings up key issues that can help you refine your goals as you get closer to retirement, such as estimating expenses in retirement, paying for health-care and long-term-care coverage, figuring how much you can expect from Social Security or a pension, and managing your investments in retirement.

This resource also includes a detailed list of critical ages for retirement planning, which can help you plot your next moves and prepare for key decisions.

After you’ve refined your retirement-planning goals, find out if you’re on track to reach them with our Retirement Savings Calculator (www.icmarc.org/rsb, click on “Retirement Security Builder”). If you’re falling short, you can see how making changes to your desired retirement age, income goal, and contributions can get you back on track to reach your goals.

For more retirement-planning advice, view the Am I On Track video, and visit the Retirement Education Center (www.icmarc.org/education, click on “Get Ready to Retire”) to learn more about estimating health-care costs in retirement, rebalancing investments to manage risk, and strategies for turning your savings into income. For our full library of tools, see www.icmarc.org/library.

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