You’re getting ready to retire

• Estimate your income and expenses
  Get a sense of how much money you could have every month, using a mix of predictable income and savings.
• Decide if guaranteed income is right for you^1,2,3
  A guaranteed income annuity is an investment that can help protect your retirement lifestyle and keep your retirement going. An annuity could last for the rest of your life, depending on the terms and time period you choose, and can help cover essential expenses or bridge the gap to Social Security.
• Determine how you’ll invest during retirement
  Reassess your investment strategy. Consider your goals, plans, and how your risk tolerance may differ from other times in your life.
• Consider your withdrawal strategy
  A sustainable withdrawal plan can help cover expenses beyond your recurring income. Review your estimated annual retirement cash flow and expenses and consider a withdrawal strategy that helps minimize your tax liability. The right approach will guide how much you take out, when, and from which accounts. You may consider scheduling a one-on-one with a Fidelity Workplace Financial Consultant to help you build out your strategy.

¹Guaranteed income refers to sources of income such as social security, pensions and certain types of annuities.

²Annuity guarantees are subject to the claims‐paying ability of the issuing insurance company.

³In exchange for providing an income stream, annuities that provide guaranteed income have no or limited access to assets.

• Make a plan for health care coverage
  If you’re planning to retire before age 65, you’ll need to explore your options to bridge health coverage from the time you retire until Medicare begins—such as Disney-sponsored retiree plans, COBRA, or the insurance marketplace.
  
  If you’re planning to retire at 65 or older, you can start enrolling in Medicare three months before your 65th birthday. And if you’re taking Social Security, you may be automatically enrolled in some parts of Medicare. Remember, Medicare won’t cover all health care costs in retirement.
  
  Regardless of whether you’ll be Medicare-eligible or not when you retire, you’ll want to consider your coverage options and understand the costs you may be responsible for.
• Explore options for long-term care
  Long-term care can range from getting short-term help with personal care to long-term residential care in an assisted living facility. Planning ahead and understanding potential options and costs associated with long-term care can help prepare you both emotionally and financially.

• Decide what you plan to do in retirement and where you’ll live
  Retirement hopefully involves pursuing what you’ve dreamed of: traveling, volunteering, spending more time with family, moving to a new place, etc. All of these details should be accounted for in your expected expenses in retirement and should be considered as you evaluate your withdrawal strategy.
• Consider what caring for loved ones might look like
  It’s important to think about how your role in supporting aging parents, a partner, or loved ones with disabilities might evolve. Caregiving can require substantial time, emotional energy, and financial resources—so whether you anticipate needing to provide hands on care, coordinating services, or helping navigate end of life planning, these responsibilities can significantly influence both your lifestyle and financial picture in retirement.
• Make a plan for end-of-life decisions
  Creating a will or trust or putting power of attorney documents in place, is an essential money-protecting step to take early in your retirement planning process, in case something happens to you. Additionally, ensure beneficiaries on your financial accounts and insurance policies align with your current wishes.