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The Financial Steps You Need To Take To Safeguard Your Retirement!

By Joseph Quijano

The Financial Steps You Need to take to Safeguard your Retirement

Life is a journey, and if you are a working individual, you need to start preparing early for the transition from a working life to a life of retirement. Starting early gives you plenty of time to get financially ready and here are some financial steps you should take to safeguard you days after retiring from a life of work.

Make an income off your savings:

The primary objective of planning for retirement is to have some money saved to secure your future. However, you also need to have a stream of money coming your way even after retirement. You can start improving your money options by researching your income options to create an income stream that will see you make money immediately when you retire. Get a financial advisor to help you develop a plan that will see you set up a suitable income after you retire.

Apply for Government Benefits in good time:

Apply for government benefits promptly to avoid delays in getting your benefits. Keep track of your calendar and schedule for a CPP application a year before your retire. Get in touch with the relevant government authorities to know more about government benefits before you even start the application process.

Evaluate your monthly income:

A working person with more than one source of income should be aware of how to consolidate all his or her monthly income from government benefits, savings and other pensions. It is a move that helps you know how much you make so that you can pay off your debits to avoid going into retirement with such burdens ogling at your finances. Just make sure you are debt free at least a year or so before you retire.

Have a Retirement budget:

The goal is to sort your existing money issues while contemplating on how much you will spend once you retire. Take an interest in saving as you plan out your expenditure during your years of retirement. Keep in mind that your income stream will change after you retire so you need to find ways in which you can spend less and save more as your work life draws to a close.

Evaluate your insurance:

Your insurance needs are subject to change as the years go by and as you grow older. As such, you also need to prudently adjust your insurance policies to suit the changes that take place as the years go by. A good example would be lowering your life insurance coverage if you have less dependents and fewer debts and applying for the long-term care or critical illness insurance policy.

Review your will:

Take time to review your will as soon as you retire to make necessary updates that will ensure your estate and investments are fairly distributed as per your directives. It is a measure that aims at protecting your loved ones from any legal or administrative burdens that may arise due to your death before or during your retirement. While at it, make sure you have a reputable and dependable power of attorney that gives a person you entrust the authority to make financial decisions and other such related issues that you will not be in a position to make.

For more information on how to take control of your retirement schedule a free consultation today. Start making money with safe strategies that the wealthy already use to grow their income. Become the Banker today!

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    "Excellent two days. Extensive knowledge obtained for funding of college education and wealth building."
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    A. Kreps

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    "Good Job. The Infinite Banking Concept was special. I wish I had that info. years ago"
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    M. Abeel

  • "Very good material and the instructor was awesome."
    "Very good material and the instructor was awesome."
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    M. Kauffman

  • I graduated from the Chicago University with an MBA; because of this I¹ve had the opportunity to sit under the best of teachers. I say without reservations you are one of the best teachers under which...
    I graduated from the Chicago University with an MBA; because of this I¹ve had the opportunity to sit under the best of teachers. I say without reservations you are one of the best teachers under which I ever sat.
    ★ ★ ★ ★ ★

    John Heckman

  • "I was so impressed with Joe's integrity, passion, and knowledge of his subjects. Very few people in this line of business have his passion"
    "I was so impressed with Joe's integrity, passion, and knowledge of his subjects. Very few people in this line of business have his passion"
    ★ ★ ★ ★ ★

    M. Eastwood

  • Learned a lot and had a great time.
    Learned a lot and had a great time.
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    N. Becco

  • "THANK YOU SO MUCH JOE !!! FOR TAKING THE TIME TO EDUCATE US !!! WE ENJOY OUR TIME WITH YOU "
    "THANK YOU SO MUCH JOE !!! FOR TAKING THE TIME TO EDUCATE US !!! WE ENJOY OUR TIME WITH YOU "
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    Robert and Elaine

  • Thank you for a very worthwhile experience, well worth the 8 hour round trip travel time from Steamboat Springs, Co!
    Thank you for a very worthwhile experience, well worth the 8 hour round trip travel time from Steamboat Springs, Co!
    ★ ★ ★ ★ ★

    A. Karvay

  • "Becoming Your Own Banker is tremendous. Too bad this wasn't being taught years ago."
    "Becoming Your Own Banker is tremendous. Too bad this wasn't being taught years ago."
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    H. Van Hees

  • Joe is Great!!
    Joe is Great!!
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    C. Polk

  • I really enjoyed Joe's enthusiasm for the topics and his passion for teaching. He really made the class enjoyable and packed full of information.
    I really enjoyed Joe's enthusiasm for the topics and his passion for teaching. He really made the class enjoyable and packed full of information.
    ★ ★ ★ ★ ★

    S. Krug

  • I felt that the way the course was presented made it very interesting and I learned so much from Mr. Quijano.
    I felt that the way the course was presented made it very interesting and I learned so much from Mr. Quijano.
    ★ ★ ★ ★ ★

    B. Greenwood

  • Thank you for helping me to understand and prepare for our financial futures. It was a great seminar and we look forward to our individual meeting with you!
    Thank you for helping me to understand and prepare for our financial futures. It was a great seminar and we look forward to our individual meeting with you!
    ★ ★ ★ ★ ★

    A.G Loveland

  • Good Morning Joseph, I thought you may want to know that we paid off our Durango lot yesterday! Thank you. The interest was $16 per day! Thanks again.
    Good Morning Joseph, I thought you may want to know that we paid off our Durango lot yesterday! Thank you. The interest was $16 per day! Thanks again.
    ★ ★ ★ ★ ★

    Anne Denver

  • Dear Joe, I want to thank you very much for helping me get set-up on such a wonderful plan. I'm very excited about it. We look forward to working with you and Jordan now and in the future!
    Many Thanks
    Dear Joe, I want to thank you very much for helping me get set-up on such a wonderful plan. I'm very excited about it. We look forward to working with you and Jordan now and in the future!
    Many Thanks
    ★ ★ ★ ★ ★

    Beth D.