Retiring already forces you to start thinking about your finances, your long-term earnings, your Social Security benefits and a lot of other financial details. You may also think about the medical care you’ll likely need as you enter this later stage in your life, and you’ll just be conscious of the fact that you’re getting older as your career comes to a close.
As such, this is the perfect time to begin thinking about writing a will and doing your estate planning. You’re already breaking down a lot of similar topics, so you just need to take it one step further.
For instance, retirement planning makes you think about your investments and how far your money will go if your paychecks stop. You can take that further and think about what will happen to your money and other assets when you pass away.
Retirement planning may also mean addressing health concerns that contributed to the end of your career. That’s a good place to begin, but the next step is to think about how those health concerns may progress and what type of long-term planning you need to do.
You may still have a long, healthy life ahead of you. The goal of estate planning is simply to think of your family and the big picture. You can do that as you retire so that you — and those that you love — are ready for whatever the future holds.
To get started, just begin by looking into all of the various legal options you have and how they may work for your family.