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Are you currently retired?
Here are a fewitems you should probably look at before the end of the year.
What percentage of your portfolio did you spend this year?
See if this lines up with the plan you made before you retired.
You may need to adjust your spending allowance if your portfolio has drastically changed in value.
If your investments have done well, you might be able to afford to spend a bit more.
If you have an individual retirement account or a 401(k), this probably applies to you.
This can be a hefty blow to your portfolio, so verify you dont forget or miss the deadline.
Over time, this percentage may have shifted.
Sometimes, as retirees get older, they rebalance their portfolios to lower their risk.
See if the way your portfolio is allocated right now fits your current risk tolerance.
Thats why its usually a good idea to keep a cash buffer for a few years into the future.
You may also have monthly income from apension or annuity.
Social Security and some pensions and annuities are adjusted regularly to account for increases in the cost of living.
Find Out If Your Taxes Have Changed
Sometimes your taxes can change from year to year.
For example, the government might change the income requirements for taxes onSocial Security benefits.
check that you check whether the tax rates or thresholds have changed for anything that applies to you.
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