Do you feel retirement ready?

Retirement looks different for everyone — and knowing when it’s time to make the leap isn’t always simple. Is it a dollar amount in your retirement account? A plan for how you’ll spend your days?

There’s no one-size-fits-all measure for retirement readiness, and your financial professional can help you evaluate your unique situation. This checklist can help give you a sense of where you stand and whether it may be time to start the conversation.

• Take inventory of your resources

Start by adding up the income and assets you may rely on in retirement, including 401(k)s, IRAs, pensions, annuities and other savings or investments. As a general rule of thumb, retirees may need roughly 80% of their pre-retirement income to maintain their lifestyle.

• Determine your income needs

Estimate what your regular expenses may look like in retirement, including housing, healthcare and everyday living costs. Then compare those needs with the income you expect from Social Security and your other income sources to identify potential gaps.

• Plan for future healthcare costs

80% of 65-year-olds will need long-term care at some point in their life.¹ Without a plan in place, the expenses associated with theses services can derail the retirement you’ve worked so hard for.

• Meet with your financial professional

Your financial professional can help you fine-tune your tax strategy, balance growth, income and risk management, consider legacy goals and address other important topics so you can retire with confidence.

• Plan with confidence

Products such as fixed and fixed index annuities can help support your retirement strategy by offering growth potential, protection from market losses and a guaranteed source of income that you can’t outlive. Some options may also include benefits designed to help address long-term care needs, giving you added flexibility as you plan for the years ahead.