Start by Planning How You'll Spend a Typical Day
Sun-Sentinel (Fort Lauderdale) (08/05/01) Vol. 158, No. 6 p.6E; Cruz, Georgina; Cruz, Humberto

Humberto and Georgina Cruz offer advice on some of the right ways to prepare for retirement. First, the couple stresses the importance of pre-retirees "visualizing" retirement. This allows individuals and couples to reflect on what is important to them and do some early goal-setting. Visualizing also gives people something to shoot for and serves as motivation to continue on with whatever plans they have already put into action. The most important issues to consider in retirement planning are: cash flow; preservation, or modest growth of capital; healthcare costs; withdrawal options from retirement accounts; tax planning; options for receiving pensions; when to start receiving Social Security benefits; and estate and gift tax considerations.

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