The final year before retirement may be one of the most important planning windows of your financial life. It's also a window where even smart people make very expensive mistakes. In this video, I walk through a 7-step retirement checklist for people who are one year away from retirement, including retirement income planning, 401(k) and IRA decisions, Roth conversion strategy, healthcare planning before Medicare, Social Security timing, beneficiary designations, portfolio allocation, and Required Minimum Distributions. If you are in your 50s or 60s and getting ready to retire, the choices you make in your last working year can affect your taxes, Medicare premiums, retirement income, investment withdrawals, and the money available to your spouse or heirs. We’ll cover: How to think about your final year of 401(k), 403(b), IRA, Roth IRA, and HSA contributions Why Roth conversions before retirement can be powerful, but may trigger IRMAA Medicare surcharges Why beneficiary designations on retirement accounts can override your will or trust How to build a Year One retirement income plan How to plan for healthcare if you retire before Medicare at 65 How to reduce sequence-of-returns risk before retirement begins Why RMD planning under SECURE 2.0 matters before age 73 Retirement planning is not just about asking, “Do I have enough money to retire?” It is also about how to turn your savings into income, how to manage taxes in retirement, how to avoid costly mistakes with your 401(k) or IRA rollover, and how to position your investments for the rest of your life. If you are one year before retirement, nearing retirement, or helping a spouse prepare for retirement, this video will help you understand the key financial planning decisions to review before you leave work.
Your Last Year Before Retirement: Avoid Costly Mistakes
