These Are the Key Decisions You Need to Make for Retirement

These important issues are all connected and can affect your taxes, likely setting them at a certain level for the rest of your retirement.

An older man examines a chessboard.
(Image credit: Getty Images)

When you’re preparing to retire, you’re most likely looking forward to relaxing. But instead of the relaxing interlude you were imagining, retirement plunges you into making possibly some of the most complex decisions you’ve ever made in your life.

Think about it — during what I call the Dynamic Decade+, the period between ages 62 and 75 — there are consequential decisions associated with retirement that should be made. That includes deciding when to stop working, choosing when to claim Social Security, starting Medicare, planning for required minimum distributions (RMDs), considering when to start withdrawing money from your retirement accounts — and more.

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Erik Bowman, RICP, NSSA
Wealth Advisor, Founder, Bowman Financial Strategies

As the firm’s owner and lead wealth advisor, Erik supports the firm’s clients with custom financial planning solutions. He provides detailed retirement planning strategies, investment management, Social Security planning and tax-efficient retirement distribution strategies. He believes in the importance of providing clear, concise advice to help alleviate his clients’ fears, which allows them to make confident decisions. His pinnacle goal is to help clients live their retirement dreams.