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A retirement assessment evaluates an individual's financial readiness for retirement by reviewing savings, income sources, expenses, and goals. It helps identify gaps, improve strategies, and ensure a financially secure and comfortable retirement.

Key Aspects:

1. Current Financial Situation – Review savings, investments, assets, and debts.

2. Retirement Goals – Define desired lifestyle, retirement age, and financial objectives.

3. Income Sources – Analyze income from pensions, Social Security, investments, etc.

4. Expenses & Budgeting – Estimate essential and discretionary costs during retirement.

5. Savings & Investments – Evaluate growth, returns, and adequacy of retirement funds.

6. Insurance & Risk Management – Review coverage for healthcare, life, and long-term care.

7. Retirement Contributions – Check contribution levels and optimize employer matches.

8. Tax Planning – Understand tax implications on withdrawals and income.

9. Longevity & Health – Consider life expectancy and potential healthcare needs.

10. Adjustments & Strategy – Make informed changes to stay aligned with retirement goals.

Purpose:

To determine preparedness for retirement and create an action plan for financial security.