Essential Steps to Secure Your Financial Future: Retirement Planning for Beginners

1. Calculate Your Retirement Expenses

2. Understand Your Monthly Cash Flow

3. Consider Accessibility of Your Retirement Funds

Action Step:

4. Plan for Health Insurance in Retirement

• Part A: Covers hospital stays and is usually free if you paid Medicare taxes for at least 10 years.
• Part B: Covers doctor’s visits and outpatient care; it has a monthly premium and deductibles.
• Part D: Covers prescription drugs, also with premiums and deductibles.

5. Create Your Retirement Vision

6. Prepare Key Legal Documents

Will

Trust

Power of Attorney

Conclusion