hOW DOES RETIREMENT CHANGE YOUR ASSETS

Planning a successful retirement is about more than saving enough money. It also means learning to adjust your habits — financial and otherwise — to your new schedule and lifestyle. 
Are you ready? Or at least headed in the right direction?
Wherever your current situation is, here are the factors to think about as you move into your post-work years.
New Expenses — You’ll no longer need to spend money on commuting costs or your work wardrobe, but you may have other financial priorities, like your golf hobby, visiting family or finally taking that spa vacation.
Cost-of-Living Fluctuations — Budget for your basics, like utilities and property taxes, and remember that they could continue to increase as time goes on. 
Health Care — Consider supplemental health insurance to help cover what Medicare doesn’t. This can help with coinsurance, deductibles or prescription drug costs.
Rebalancing Assets — When you have a regular paycheck, it makes more sense to take on a little risk. As you age, you might want to start being more conservative. Schedule a check-in if it’s time to revisit your goals. 
Taking Care of Your Home — If you intend to live in the same home when you retire, then take a hard look at possible modifications at least three to five years beforehand. A new roof, deck  or furnace can cost a pretty penny.
Managing Debt — Retirement income and Social Security benefits will be constant, which means your bandwidth to repay debt could be hampered if interest rates rise.
Miscellaneous Accounts — Once retired, it’s more important than ever to be mindful of how much you have saved, where or how it’s invested, your checking account balance and any interest you’re paying.
Future Plans — It’s important to keep your estate plan and beneficiaries up to date and to map out your budget and intentions for the next several years.
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