I am not yet at the stage where retirement is on my mind. But, if it is for you, you have a lot of work to do, and YES I mean you young 60 somethings… YUP – LISTEN UP. I know these conversations are not fun, but have them now!
1. Write a Will – and share copies with family members (most states may not let you tape names to the bottom of furniture as sufficient bequeathing).
2. General POA – want someone to help with financial matters?
3. Health Care POA – want someone to make decisions for your health care when you cannot?
4. DNR – do you remember Ms. Valerie Schievo in Fla? With the right Health care POA or DNR documents, her family would have been spared a great deal of turmoil.
5. Charitable donations – want to watch your money help others? Then why wait to make donations – make them now, and be involved.
6. Not enough money for donations, but want to plan and save for your family? Consult a Medicaid consulting attorney for planning. You would be surprised at what federal law allows you to do and spend before Medicaid applications (and maybe you won’t be surprised, but a great deal is NOT allowed).
7. Plan your funeral – yup, I mean it, the whole thing – from payments, to caskets, to burial location. What a gift this will be for your loved ones who will be asked to make difficult decisions during a difficult time.
8. Tour local facilities. Do you know that no matter what you don’t want to go to a nursing home? Then do something about it – plan, talk to home health. What if you have heard bad things about a few – tour the ones around and make your family aware of those you find acceptable, and not acceptable.
9. Investigate insurance plans – Medicare B / Vet benefits – what do you have, and what do you need? Better do this sooner, than later.
And last, but not least – ENJOY YOUR RETIREMENT – knowing you are planned, organized and ready to enjoy. Your family will thank you for thinking ahead!