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Planning for Retirement

... continued (after you retire)

Within the first year after you retire:

Get organized. You finally have the time to get your personal and financial records in order — so do it before you get sidetracked. What documents do you need to keep? Where? For how long? Are they easy to find? What if you were in a serious accident tomorrow? Could someone else step in and handle your daily affairs for you, even temporarily? Or worse yet, what if you should die tomorrow? Could your heirs easily settle your estate? Or, will they find a jumble of unorganized papers scattered throughout your house? At your attorney's office? In your safe deposit box?

We've prepared several different free personal and financial organizers to help you resolve these questions. They will definitely make the job easier for someone to manage or settle your affairs. But just as important, they can help you manage your own affairs more easily, with greater peace-of-mind. Simply click on Personal and Financial Organizers.

Update your estate plans. Make sure your will, both powers of attorney (one for financial affairs, the other for health care), and your living will are up-to-date. Also check your beneficiary designations — will the wrong people inherit your money? (For more information about beneficiaries, click here on Smart Money Tip.) Don't put this off until you get sick — accidents do happen at the most inconvenient time — don't let a crazy driver make a mess of your plans.

Saving money after retirement:

For tips about saving money after retirement, visit our Money Saving Tips and Strategies and Senior Discounts sections.

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