Retirement To Do List

Posted by: Gene M. | Jan 10,2008


Here’s a handy list about when you should concentrate on certain areas of your retirement portfolio as you head to retirement.  For a growing number of Boomers, this may come as too little too late, as they’re much less than 10 years out of retirement.  Still, it’s an interesting guide and it will be of better use to those on the young side of Boomerhood.  

That said, it does seem like a slightly random list.  It is a reminder of all the things you need to do but I wouldn’t quite endorse that you need to start getting out of debt as close as four years from retirement.  The longer you wait to get out of debt – credit card debt alone, let alone other types of debts as well – the longer it’s going to take to get out of it.  Leaving just four years to get out of a sizable debt – let’s say around $15,000 – isn’t going to cut it.  Paying $100 over the minimum is barely going to make a dent into your credit debt after year one.  

The fact is that you’re always going to be needing to funnel money into other sources – investments, savings, and debt reduction.  This means that you’re going to have to cut down on how far above the minimum you’re able to shell out.  So it makes sense for you to work on your debt problems sooner rather than later.    

All in all, I don’t entirely recommend the list I’ve linked to as a step-by-step guide, but it is a pretty good list of things you need to concentrate on every year as you head towards retirement.

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