If you and your spouse are planning to retire at different times, one of the most important steps you can take isn’t just deciding when to retire, it’s understanding the impact of that transition.

If you are approaching retirement or have recently retired, the years between leaving the workforce and beginning Social Security may present planning opportunities.

Many of the most important planning decisions involve preparing for circumstances we hope never occur while creating greater clarity for the people we care about most. Estate planning is one example of that principle.

Understanding available options before making retirement account decisions may help preserve flexibility and reduce the likelihood of unintended consequences.  If you are planning to retire before age 59½, understanding how the Rule of 55 may apply to your circumstances can be an important part of the retirement planning process.

If you’re getting ready to retire in the next few years, here’s what you need to do to make sure that you’re ready when the big day comes.