Money Order Outline
My MOO: Retire
Whether you are approaching retirement or currently in retirement, use the following planning actions to build a simple, durable plan that supports your goals and values.
Financial and Income Planning
Calculate spending capacity
estimate how much you can spend each year without running out.
Retirement budget
fixed expenses, discretionary spending, travel, health care, gifts, and more.
Withdrawal strategy
decide which accounts to draw from first: taxable, tax deferred, and Roth.
Social Security timing
optimize for longevity, income needs, and spousal benefits.
Pension options
compare lump sum and annuity and review survivor benefit elections.
Part time work or consulting
decide if you will supplement income and how that affects taxes and Medicare.
Inflation planning
model income needs under different inflation scenarios.
Stress test portfolio
model portfolio strength against past downturns and review the likelihood of plan success.
Emergency fund in retirement
target six months to one year of cash or liquid reserves.
Taxes
Roth conversions
build a year by year plan to lower lifetime taxes, increase tax free inheritance, or create more flexible income.
RMD schedule
required age is 73 for those born 1951 through 1959 and 75 for those born 1960 or later. Calculate the impact and coordinate withdrawals.
Qualified Charitable Distributions
give directly from IRAs to reduce taxable income.
Donor advised funds
bunch deductions and set up a giving strategy.
Capital gains management
harvest gains and losses with intention.
Tax efficient investment placement
decide what belongs in Roth, Traditional, or taxable.
Health Care and Insurance
Medicare
shop at age 641/2, coverage starts at 65.
Medigap or Medicare Advantage
compare plans, costs, and coverage.
Health Savings Account
if you have one, use it tax free for medical expenses.
Long term care planning
evaluate insurance options or a self funding plan.
Life insurance review
determine if it is still needed for income replacement or estate goals.
Risk and Protection
Portfolio review
match allocation to risk tolerance and income needs.
Sequence of returns risk
create a buffer for early years to avoid selling during downturns.
Fraud protection
freeze credit, monitor accounts, and beware of scams that target retirees.
Other Planning Items
Required documents organized
store in a secure but accessible place: will, trust, power of attorney, health care directives, and insurance policies.
Financial power of attorney
ensure someone can act if you are incapacitated.
Health care surrogate or directive
make wishes clear for medical decisions.
End of life planning
funeral preferences and legacy documents.
Technology setup
make sure spouse, children, or loved ones can access digital accounts and passwords.
Lifestyle and Personal
Housing decisions
downsize, relocate, consider a second home, or age in place.
Home maintenance and safety
plan for accessibility with grab bars, ramps, and similar updates.
Transportation
decide how long to drive and identify alternatives like ride sharing or relocation.
Daily routine and purpose
hobbies, volunteering, and community involvement.
Travel plans
take bucket list trips early while healthy, then adjust for energy and mobility later.
Family engagement
time with kids and grandkids and caregiving responsibilities.
Friendships and social circles
stay connected to avoid isolation.
My MOO is provided for informational and educational purposes only and should not be considered financial advice. Users are encouraged to consult with a qualified financial professional before making any decisions, as the tool does not account for all aspects of an individual’s financial situation. Use of this tool does not create an advisory relationship. While efforts are made to ensure accuracy, no guarantees are made regarding the results.
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