Legal-Ease: What to consider when considering retirement

Lee R. Schroeder is an Ohio licensed attorney at Schroeder Law LLC in Putnam County. He limits his practice to business, real estate, estate planning and agriculture issues in northwest Ohio. He can be reached at [email protected] or at 419-659-2058. This article is not intended to serve as legal advice, and specific advice should be sought from the licensed attorney of your choice based upon the specific facts and circumstances that you face.

Retirement typically means that while you still may work, the “make a living” phase of your life has wound down. When Lee works with clients preparing for retirement, he typically focuses on four major considerations.

First, Lee asks his clients preparing for retirement about taxes. Second, retirees will need to decide when to take Social Security or money from a retirement plan. Third, people planning for retirement need to consider their healthcare options. Fourth, retirement is a perfect time to get more serious about estate planning and asset protection.

When we retire, it usually means we are ending our long-term, full-time employment. We may return to work for a while or continue to work fewer hours, but our major “make a living and create a nest egg” time generally starts to end upon retirement.

In counseling clients anticipating retirement, I am asked to help clients prepare for all of the changes and opportunities that their senior age and changed circumstances may present. Typically, we focus on four major considerations.

Read more about the considerations that should come into play when planning your retirement in Lee’s article in the Lima News here: Legal-Ease: What to consider when considering retirement

Source: LimaOhio.com, “Legal-Ease: What to consider when considering retirement,” by Lee R. Schroeder, September 9, 2017

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