“I’m Feeling a Bit Overwhelmed”

The following questions serve as a checklist to help you review the steps detailed in this guide and to evaluate the various options available to you.

  • Do you have a financial advisor or someone else you trust in that capacity?
  • Do you have health insurance?
  • If not, can you secure health insurance through employment?
  • Have you evaluated which public resources you might qualify for — Medicare, Medicaid, Social Security, Veteran’s Benefits, etc.?
  • Have you carefully set your goals and reviewed your financial resources?
  • Do your goals include leaving assets or funds to beneficiaries?
  • Do you need extra income to cover medical expenses or alternative treatments?
  • Are there other goals you would like to focus on, such as trips with family or friends?
  • Have you evaluated the implications of early withdrawal of retirement benefits?
  • Do you own your home? Do you have assets to sell?
  • Have you arranged these assets according to high-tax/low-tax implications, as well as those that are critical and not critical?
  • Have you evaluated the benefits of selling and renting versus a reverse mortgage or other forms of financing?
  • Do you have assignable life insurance?
  • If not, have you looked at options to purchase life insurance?
  • Have you carefully reviewed all the benefits and drawbacks of the options available to tap into the value of your life insurance policy?
  • Have you compared your potential income sources against your priority goals?
  • Have you left some income flexibility for a longer-than-anticipated life expectancy?
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“I Have Options, but Do I Also Have Any Rights?”...