Experts define early retirement as the years from when you retire until you are 70. Of course, if you do not retire until you are 70 or more, then these steps can apply to you as well. Now that you have been retired for a year or two, you should be able to do some planning as well as have some dialogue with family and loved ones as to how you expect your retirement to progress.

Financial Assessment

Now that you have had a little time to work with your savings, it’s time to look how your finances are working for you. Is your investment strategy allowing you to keep your standards of living where you are comfortable? Is it may time to look into selling the family home and downsizing to something that is better suited to just you or you and your spouse? Are there any unforeseen events that took place that made you rethink your investment strategy?

Tune your Strategy for the Long Term

Using what you’ve learned in your first few years in retirement you should be able to project how you will need to manage your finances for the long term. While average life expecatnacy figures are a good starting point, many experts say that planning out to age 100 is a safe way to ensure you have enough money to cover your entire retirement.

If you need assistance with financial planning for retirement or any other legal issues, contact the elder law experts at Stano Law Group.