You’ve accumulated a nest egg, paid down debts, and submitted your official notice at work. You’re ready to retire, and everything is all set… Right?

Yes, you’re off to a good start. But if you make these three simple changes as you retire, you may thank yourself for the advance planning later.

Consult a tax professional. You can’t assume that your tax situation in retirement will be identical to your working years. Many forms of retirement income are taxable, including Social Security, retirement fund withdrawals, and pension payments. When required minimum withdrawals kick in at age 72, your income – and your taxes – could increase.

Because you might change tax brackets, it may be a good idea to consult with a professional about exactly what that means for your situation. And of course, they can advise you on ways to reduce that tax burden.

Adjust your spending. You want to enjoy a reasonable quality of life in retirement. But because some of your income might be dependent upon market performance along with inflation, it is wise to leave yourself a bit of wiggle room in your budget. You can’t exactly ask your boss for a raise anymore!

Make healthy choices. Healthcare is often one of the biggest expenses faced by retirees. And poor health can impact your enjoyment of your retirement years. As you retire, remember to make healthy choices such as engaging in regular exercise and eating a well-rounded diet. Not only can wise choices reduce your spending on healthcare; they may also help you live a longer and more fulfilling life after you retire.

And don’t forget that we’re here for you, both before and after your target retirement date. Retirement planning is always an ongoing exercise, so schedule regular appointments with us to keep your retirement income plan on track.