How Can You Build Your Pre-Retirement Checklist?

Financial Decoder

Most people look forward to retirement—after all, most of us save money during our working lives to fund our golden years when we'll have more time to do what we enjoy. However, it's hard to do detailed planning if you haven't pinpointed, at least approximately, what you want to achieve in retirement. In other words, the first step for retirement planning is to imagine what you want your retirement to look like. Without a vision or goal, you can't make an effective plan. Once you take this first step of visualization, you can start to take more concrete steps to make it happen.

On this episode of Financial Decoder, host Mark Riepe speaks with Patrick Means, vice president and branch manager at Schwab. They discuss a series of concrete steps that are included on what we call the pre-retirement checklist. In other words, what do you need to take care of in the handful of years, months, and days before you retire?

To hear more about the power of checklists, listen to the Choiceology episode "A Successful Failure."

To read the study Mark references about active and passive risk taking, Check out "Differentiating Passive from Active Risk Taking: The Role of Self-Control and Time Perspective" from the Journal of Behavioral Decision Making.

Follow Financial Decoder for free on Apple Podcasts or wherever you listen.

Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit Schwab.com/FinancialDecoder.

If you enjoy the show, please leave us a rating or review on Apple Podcasts.

Important Disclosures

Investing involves risk, including loss of principal.

All corporate names and market data shown above are for illustrative purposes only and are not a recommendation, offer to sell, or a solicitation of an offer to buy any security. Supporting documentation for any claims or statistical information is available upon request.

The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. All expressions of opinion are subject to changes without notice in reaction to shifting market, economic, and geopolitical conditions.

All expressions of opinion are subject to change without notice in reaction to shifting market, economic or political conditions. Data contained herein from third party providers is obtained from what are considered reliable sources. However, its accuracy, completeness or reliability cannot be guaranteed.

Data herein is obtained from what are considered reliable sources; however, its accuracy, completeness, or reliability cannot be guaranteed. Supporting documentation for any claims or statistical information is available upon request.

​This information is not intended to be a substitute for specific individualized tax, legal, or investment planning advice. Where specific advice is necessary or appropriate, you should consult with a qualified tax advisor, CPA, Financial Planner, or Investment Manager.

Diversification and asset allocation strategies do not ensure a profit and do not protect against losses in declining markets.

There are certain eligibility requirements for working with a dedicated Financial Consultant.

Apple, the Apple logo, iPad, and iPhone are trademarks of Apple Inc., registered in the U.S. and other countries. App Store is a service mark of Apple Inc.

Android is a trademark of Google LLC. Use of this trademark is subject to Google Permissions.

Spotify and the Spotify logo are registered trademarks of Spotify AB.

[1123-3LYP]