Aging in Place 3rd edition

PERSONAL FINANCE

Understanding Your Income & Assets Do you feel confident that you have/will have enough money (savings, income, assets) to support yourself through the remainder of your life? Yes____ No____ Not Sure ____ If you answered “ no ” or “not sure” : Have you thought about strategies to either increase your retirement income or reduce your expenses? Some examples include:  Establishing a savings/retirement account Yes____ No____  Delaying retirement Yes____ No____  Phased retirement with part-time work Yes____ No____  Modifying your savings withdrawal rate Yes____ No____  Converting other assets to savings Yes____ No____  Converting home equity to savings Yes____ No____  Eliminating unnecessary expenses Yes____ No____  Revising insurance needs Yes____ No____ Are you currently collecting Social Security benefits? Yes____ No____ If you answered “ no ”: Have you decided when you will collect your Social Security benefits? (The earlier in life you start collecting benefits, the lower your monthly check will be. ) Yes____ No____ Not Sure ____ Do you have savings, pensions or other funds set aside? Yes____ No____ Not Sure ____ If you answered “ yes ”: Please select all the funds below that you have: You can learn more about Did You Know?

finding a financial advisor and the questions you should ask about your advisor’s approach, fees, and commission, at: www.economiccheckup.org/ financial-advisor-and- counseling

 401K Account  IRA account  Bank savings

 Investments  Annuities  Trust Accounts

Do you know where these funds are located and how to access them? Yes____ No____ Not Sure ____

Aging in Place: Your Home, Your Community, Your Choice

Personal Finance 44