Free Retirement Planning Checklists

Find out if you are in the right position to convert — before you pay a dollar in tax.

• ☐You are currently in a lower tax bracket than your heirs will be
• ☐You have RMDs beginning within the next 5 years
• ☐You have cash outside your IRA to pay the conversion tax
• ☐You are between age 60–72 (the optimal conversion window)
• ☐You have calculated your combined Family Tax Rate
• ☐Your taxable estate exceeds $2 million
• ☐Your beneficiaries live in a high-income-tax state
• ☐You have modeled the IRMAA impact of conversion income
• ☐You have an estate plan that includes trust planning
• ☐You have reviewed Roth conversion bonus incentives available at brokerages

Everything to do in the decade before you stop working.

• ☐Maximizing catch-up contributions ($7,500/yr after age 50)
• ☐Estimated Social Security benefit modeled at age 62, 67, and 70
• ☐All income sources mapped against expected retirement expenses
• ☐Beneficiary designations reviewed on all retirement accounts
• ☐Long-term care insurance options evaluated
• ☐RMD projections modeled from age 73 forward
• ☐Roth conversion window identified (before RMDs begin)
• ☐Medicare enrollment timeline confirmed
• ☐Estate planning documents updated (will, POA, healthcare directive)
• ☐Investment allocation reviewed for retirement income phase

Claiming too early can cost you hundreds of thousands over retirement.

• ☐Reviewed your Social Security statement at ssa.gov
• ☐Know your Full Retirement Age (FRA)
• ☐Modeled break-even age for delaying to age 70
• ☐Evaluated spousal benefit strategy if married
• ☐Calculated how IRA income will affect Social Security taxation
• ☐Confirmed whether earnings before FRA affect your benefit
• ☐Reviewed survivor benefit implications for your spouse
• ☐Coordinated Social Security start date with Roth conversion window

Miss a deadline and you pay penalties for life. Use this before you turn 65.

• ☐Enrollment window confirmed (3 months before turning 65)
• ☐Current employer coverage evaluated for creditable status
• ☐IRMAA income lookback window identified (2 years prior)
• ☐Part D drug plan options compared for your medications
• ☐Medigap vs. Medicare Advantage trade-offs evaluated
• ☐Impact of Roth conversion income on IRMAA modeled
• ☐Spouse enrollment timeline confirmed
• ☐Late enrollment penalties reviewed if applicable

The SECURE Act changed the rules. Most families do not know what their heirs are walking into.

• ☐IRA beneficiary designations are current and reviewed
• ☐Heirs have been informed of the 10-year distribution rule
• ☐Heirs tax brackets modeled on inherited IRA distributions
• ☐Trust structure reviewed for Roth IRA compatibility
• ☐Combined Family Tax Rate calculated across generations
• ☐Charitable beneficiary options considered for tax efficiency
• ☐Per stirpes vs. per capita designation confirmed
• ☐Contingent beneficiaries named on all accounts

2 in 5 retirees will need long-term care. Most are not financially ready.

• ☐Estimated annual LTC cost researched for your state or target state
• ☐Home care vs. facility care preference documented
• ☐Current liquid assets outside IRA available for LTC costs identified
• ☐Hybrid life/LTC insurance options evaluated
• ☐Traditional LTC insurance options evaluated
• ☐Roth conversion evaluated as LTC flexibility strategy
• ☐Medicaid lookback rules reviewed if applicable
• ☐Family caregiving plan discussed with family members