Mark Patterson—Retirement Readiness Financial Checklist (US News And World Report)

US News And World Report’s Mark Patterson discusses strategies to assess your financial readiness in retirement.

1. Sources of guaranteed income. Before you can fully retire, you must have guaranteed income streams available to pay for your basic retirement living expenses. For those without a pension, this can mean a combination of Social Security, annuities, and income from risk-free investments.

2. Health care coverage. If you are 65 or older, you should be eligible for Medicare. You will also need to have resources to cover what Medicare does not: premiums, deductibles, and co-pays. With or without Medicare, health care and long-term care costs in retirement are significant, so you must be prepared for them.

Read more at U.S. News and World Report

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