|To-do||Questions to ask||Action plan|
|Finalize your plan for covering expenses in retirement||Am I on track to meet my goals?
Do I know my expected monthly expenses and how I'll cover them—possibly for the next 30+ years?
How much can I withdraw from savings each year and still have my money last?
|Develop a budget
Read: How long will your retirement savings last?
Meet with a Fidelity representative to help develop your plan
|Revisit your investment allocation||Am I properly invested and diversified as I head into retirement?||Read The guide to diversification|
|Decide when you will claim Social Security||At what age am I planning to claim Social Security?
How can I maximize my Social Security benefits?
|Find resources in the Fidelity Social Security Center
Go to www.ssa.gov
Read How to get the most from Social Security
|Create your withdrawal strategy||Do I know which accounts/investments to withdraw from first to minimize income taxes?
How much can I afford to withdraw each month/year?
|Read Tax-savvy withdrawals in retirement
Read Special report: Taxes
|Learn how Medicare works and what it covers||Which Medicare option is right for me and my spouse/partner?||Read 6 key Medicare questions
Sign up for Medicare 3 months before to 3 months after reaching age 65
|Take advantage of any employer retiree health care benefits||Does my employer offer any retiree health benefits?||Call your workplace benefits office to understand your options
Compare pricing and coverage with health care marketplace offerings
|Officially start the retirement process with your employer||Do I know who to contact at work when I am ready to retire? What's involved and how long will the process take?||Call your HR/Benefits office to understand all retiree benefits available to you (pension, retiree medical, other)|
|Decide what to do with your 401(k) or 403(b)||Do I know the 4 options to consider with my old workplace retirement plan?||Read how to roll over a 401(k) to an IRA
Read Considerations for an old 401(k)
|Know your pension options||Would I prefer to receive a monthly pension check vs. taking a lump sum upon retirement?||Read Lump-sum payment or monthly pension?|
|Know your required minimum distribution rules||Am I prepared to start taking my RMDs at age 72?||Learn how to take RMDs from your IRA
Read Smart strategies for RMDs