Plot a Timeline
In the timeline, I list all the things they need to do, like apply for Social Security in the March before retirement, allocate his 401(k) plan defensively in April. --Martha Schilling
Plotting out where they should be before, starting and throughout retirement will help clients better grasp how to prepare. Martha Schilling maps a timeline for clients. “Say I have a 60-year-old client who plans to work until June 2010 and we’ve estimated he’ll have 30 to 35 years of retirement,” she says. “In the timeline, I list all the things they need to do, like apply for Social Security in the March before retirement, allocate his 401(k) plan defensively in April. I’ll also plot reminders for doing thewill, insurance policies and medical/disability.”
-Martha Schilling, a chartered retirement planning counselor in Dresher, Pennsylvania, in Teach Your Clients to Retire Wisely
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