Retirement planning is a journey best shared with your spouse or partner. Take the time to sit down together, explore your dreams, and thoughtfully address all the important questions. Be sure you both fully understand all your retirement investments: your Eder plan, other pension plans either or both of you may be in, your 401k if you have one, savings accounts, social security, stocks and bonds, etc.
Agree on a sum to set aside for unexpected expenses. By planning ahead and setting aside a specific amount, you can avoid dipping into your long-term savings, keeping your financial goals on track.
If you are in Eder Retirement Plan, be sure you both understand the difference between the annuity and the periodic payment plan. Consider which you want or if you want to combine the two, and how often and how much you want to be paid.
If you choose the annuity, take time to understand the surviving spouse options. Take the necessary steps to prepare to take care of each other, making sure your beneficiary details are up-to-date and aligned.
Brainstorm the many things you can do during your retirement time. Give careful thought to how you want to balance alone time with doing things together. Consider how much money you’ll need to accomplish both your goals.
Retirement should be pleasing and satisfying. By planning as a team, you can ensure a future that meets both your goals and dreams.
