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Checking In on Your Retirement Preparation Progress

Checking In on Your Retirement Preparation Progress

Retirement Check-In

Like most things in life, retirement preparation requires ongoing monitoring. Enrolling in a retirement plan and choosing investment options is not the end of the story. As your life and priorities change, your retirement plan choices may need to change as well.

Events that signal a need to re-evaluate your plan choices, include:

  • Marriage
  • Birth or adoption of a child
  • Change of employment for you or your spouse
  • Divorce
  • Financial emergency
  • Death of a spouse
  • Approaching retirement

Where Are You on the Road to Retirement?

Retirement and financial planning calculators can show how likely you are to reach your retirement income goal using your current strategy. Share these results with a financial professional who can help you determine if you need to make any changes.

Contribution Changes

One area of your retirement strategy that can make a big difference is changing your contribution level. If you receive a raise or a windfall of money, increase your contributions so you can move closer to your vision of retirement.

Investment Adjustments

Risk tolerance and years until retirement are closely related, so as time goes by you should change your investment allocation. Even if you think your investment preferences haven’t changed, it’s possible your portfolio has. Some investments may outperforming others, and over time, this can cause your portfolio to shift away from your initial allocation. If left unadjusted, your portfolio could become either increasingly risky or conservative. With occasional rebalancing of your portfolio you can keep your investment choices more in line with your investment goals.

Personal Information

While you are looking at your contribution rate and evaluating your investment strategy, check to see that your personal information is up to date. Keep important details current, such as contact information and beneficiary designations.

to check in on your progress and make necessary changes.
 

Note:

Group annuity contracts are issued by American United Life Insurance Company® (AUL) and registered variable annuity products are distributed by OneAmerica Securities, Inc., a Registered Investment Advisor, Member FINRA, SIPC, One American Square, Indianapolis, IN 46282, 1-877-285-3863. McCready and Keene, Inc. and OneAmerica Retirement Services LLC provide administrative and recordkeeping services and are not brokers/dealers or an investment advisors. Neither AUL, OneAmerica Securities, McCready and Keene, OneAmerica Retirement Services nor their representatives provide tax, legal or investment advice.

 

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