When you are contemplating retirement within the next 5 years or so, you are in the retirement “zone.” This’s a crucial time period during which you will be confronted with a selection of choices that are important, as well as the decisions you make could have long lasting consequences. It is some transition: a shift from a mindset that is devoted to getting rid of debts and accumulating assets for retirement to one that is centered on distributing money and drawing down resources. It can be chaotic and confusing, though it does not have to be. The key is understanding the underlying problems, and then to realize the long term consequences of the choices you make today.
Tip: If you have just recently retired, you are also in the retirement zone. You will want to evaluate your debts and the financial situation of yours in light of the choices that you have previously made, and think about adjusting your general strategy to reflect your current circumstances and expectations.