A Simple Checklist to Kick-Start Your New Work-Free Life

The 3 Pillars Of Successful Retirement Plans

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If you’re within 5 years of retirement,

you’re in a critical period – if you take action now, you may still be able to make up for past mistakes. The decisions you make now will define your retirement lifestyle and your ability to retire successfully. This checklist is designed to highlight your strengths and weaknesses for retirement preparation.

Go through each step of this checklist and TAKE ACTION. As you go, jot down questions or concerns in the space for notes on the next page. If you’re feeling overwhelmed and want some pro guidance, give my office a call to schedule a 100% free and no-obligation chat at the number below.
Why Should You Get a Professional
Opinion of Your Income Strategy?

Turning your savings into enough income to last the rest of your life is complicated — and getting it wrong can have dire consequences.

  • I have completed a risk questionnaire and understand all the risks I’m taking with my retirement savings
  • I understand that my investing strategy will need to change in retirement so I don’t run out of money later in life
  • My income strategy includes guaranteed income to protect my lifestyle from market volatility
  • I have run multiple portfolio scenarios with different growth and inflation assumptions and am confident that my withdrawal needs are “safe”
  • My income plan is flexible, and I’ve planned for the inevitable ups and downs of the stock market.
  • A financial professional has reviewed my market plan and assumptions to identify any problems
PILLAR 2 - A Market Readiness Strategy
Why Should You Get a Professional
Opinion of Your Market Strategy?

I have access to sophisticated software that lets me “stress-test” your portfolio under different market conditions to find the weak points and suggest solutions.

Questions to ask my adviser:
PILLAR 3 - A Forward-Thinking Tax Strategy
  • I have recently reviewed my financial strategies in light of the 2017 Tax Cut and Jobs Act to make sure I’m using every opportunity to lower my taxes during this limited window (expires in 2025).
  • I understand how Taxable, Tax-Deferred, and Tax-Free wealth buckets work, and my drawdown strategy maximizes my after-tax income.
  • I understand that Medicare and Social Security depend on the future fiscal stability of the U.S.
  • I understand that the debt held by the U.S. is expected to break historical records by the 2030s (surpass 100% of GDP) and that my future tax rates are likely to increase.²
  • I am staying abreast of changing tax rules and working with a financial professional to proactively plan for future taxes.
Why Should You Get a Professional
Opinion of Your Tax Strategy?

Simple: Don’t give Uncle Sam a dime more than you have to.

I Can Help You Get Clarity About Your Retirement Plans and Help You Create the Roadmap to a Successful Work - Free Life.

You might be thinking to yourself: this is too overwhelming to deal with right now. Before you set this checklist aside for later, I want to remind you of something: you’ve already made the decision to take action. The first step is the hardest, and you’ve already taken it. Just taking that step puts you much farther ahead than most people.

It’s okay not to have all the answers to the questions presented in this checklist. What’s important is identifying where you still need to take action. If you need some advice or encouragement, please call my office to schedule a chat.

Pedro Gomez, CFP®

Brickell Financial Group LLC

305-602-2402

pgomez@brickellfin.com

www.brickellfin.com

¹https://www.fidelity.com/viewpoints/personal-finance/plan-for-rising-health-care-costs

² https://www.rollcall.com/news/policy/cbo-us-debt-burden-set-to-break-record-in-early-2030s