Retirement Planning: Are You on Track to Reach Your Goals?

Preparing for retirement is an important aspect of financial planning. It involves making strategic decisions and taking necessary steps to ensure a comfortable and secure retirement. This retirement planning checklist may provide you with valuable information and practical tips to better help you prepare for retirement effectively.

Financial Stability

Adequate Savings

The first step in retirement planning is to assess your financial stability. You need to make sure that you have adequate savings to sustain your desired lifestyle in retirement. Here are some questions to consider:

  • How much money do you need to save for retirement?
  • What are your expected expenses in retirement?
  • How much money will you need to invest to reach your retirement goals?

Once you have a better understanding of your retirement needs, you should create a retirement plan. This plan should include details on your expected retirement age, your retirement income goals, and your investment strategies. It is important to develop a retirement plan that is tailored to your needs and circumstances. Here are some questions to consider when creating your retirement plan:

  • What is your desired retirement age?
  • How much income do you need to support your desired lifestyle in retirement?
  • What types of investments should you make to reach your retirement goals?
  • What tax strategies should you consider?

Finally, you should review your retirement plan regularly to ensure that you are on track. Here are some questions to consider when evaluating your retirement plan:

  • Have you adjusted your retirement plan to account for inflation?
  • Have you saved enough money to sustain your desired lifestyle in retirement?
  • Do you have a well-funded retirement account, such as a 401(k) or IRA?

Try our retirement calculator for more specialized guidance on your current or future debt.


The next step in retirement planning is to make sure that you are debt-free. This means that you should strive to have no outstanding debt before you retire. Here are some questions to consider when assessing your debt situation:

  • Do you have any credit card debt?
  • Are you making the minimum payments on your loans?
  • Have you paid off all your major debts, such as mortgages and loans?
  • Are you free from any significant financial obligations?
Retirement planning success

Retirement Planning through Emotional Readiness

Emotional readiness is just as important as financial readiness when it comes to retirement planning. It is important to make sure that you are emotionally prepared to make the transition from working to retirement. Here are some questions to consider when assessing your emotional readiness for retirement:

  • Do you feel ready to give up your career and lifestyle to retire?
  • Are you prepared to accept the changes retirement will bring?
  • Are you looking forward to the freedom and flexibility that comes with retirement?


Burnout is an important factor to consider when planning for retirement. Working long hours and dealing with the stress of everyday life can lead to burnout and leave you feeling exhausted and uninspired. It is important to make sure that you are emotionally and physically prepared for retirement before taking the plunge. Here are some questions to consider when assessing your readiness for retirement:

  • Are you feeling exhausted and burnt out from your current job?
  • Do you find it difficult to maintain motivation and enthusiasm for your work?

Desire for Change

When planning for retirement, it is important to assess your own desires for a change. Retirement can provide a great opportunity to try out something new or finally pursue your passion. Ask yourself the following questions to gauge your readiness for retirement:

  • Are you longing for a change in your daily routine and lifestyle?
  • Do you have other interests or hobbies that you want to pursue?

Health and Well-being

It is also essential to consider your physical and mental health when planning for retirement. Ask yourself the following questions to evaluate your health and well-being:

Physical Health

  • Are you in good physical health to enjoy your retirement years?
  • Do you have any chronic health conditions that may require ongoing medical care?

Mental Health

  • Are you mentally prepared for the transition from a structured work environment to a more relaxed lifestyle?
  • Do you have a support system in place to help you cope with any emotional challenges that may arise?

Retirement planning for Life Goals


  • Have you achieved most of your career and personal goals?
  • Do you feel satisfied with your accomplishments and ready to move on to the next phase of life?

Bucket List

  • Do you have a list of activities or experiences that you want to pursue in retirement?
  • Are you excited about the prospect of having more time to travel, volunteer, or engage in hobbies?


Retirement is a significant life event that requires careful consideration and planning. By assessing your financial stability, emotional readiness, health and well-being, and life goals, you can determine if you are truly ready to retire. Remember, retirement is not just about leaving your job; it’s about embracing a new chapter filled with relaxation, fulfillment, and personal growth.

Brian Low wants to help you achieve your financial goals. Call us today at 225.292.4225.

Bonus Facts

About 1 in 3 Americans age 65 and older rely on Social Security for at least 75 percent of their income, according to a 2021 Social Security Administration study.

There was $343 billion invested in annuities and $165 billion in life insurance premiums in 2022, according to the Insurance Information Institute.

Ready to Take The Next Step?

For more information about any of the products and services listed here, schedule a meeting today or register to attend a seminar.

Or give us a call at 225.292.4225