If you have completed the Checklist for Young Adults then you have a few more things to do before you coast into retirement.
- I have a will or a revocable living trust. I understand if my estate will trigger probate and if my heirs would be better served by a revocable living trust.
- I have term life insurance if I have family who depend on my income.
- I have an excellent understanding of my investment goals and choices and/or I work with a financial advisor.
- If I have a finacial advisor, they are a "fiduciary" and I understand how they are paid.
- I have designated a financial power of attorney if I should need one.
- I have forecast scenarios for my retirement income and expenses.
- I have a goal for how much I need to save before retirement.
- I have evaluated the cost/benefit of Long Term Care Insurance.
