In planning for retirement, there are several things to consider. You may have sufficient cash and no need to have life insurance for a spouse. But you might want to purchase a life-insurance policy to offset the inheritance tax. Again, it all goes into planning and the tax implications at the time of retirement. Silver suggests that when retiring, you move your assets into fixed-income investments such as corporate bonds or maybe a CD where you can collect on interest.
Estate planning Another consideration for retirement is estate planning.
It includes projecting what will be left of your estate, where your estate will go, and the best way to diversify so that the least amount of federal, state, and local taxes will need to be paid. Silver suggests setting up a trust fund for your survivors. If your spouse would need medical care or incur other expenses, a trust fund would ensure that all bill would be paid through a financial company. Silver also advises that offspring should know the financial status of their parents' estate. Finally, Silver strongly suggests that when searching for any financial advisor, you should be interviewing them.