Retirement is often viewed as the ultimate reward. Work hard, save diligently, make smart financial decisions, and one day you'll reach the point where every day belongs to you.

As retirement approaches, healthcare planning often becomes more immediate. You may begin comparing Medicare options, reviewing supplemental coverage, and thinking about how healthcare expenses will fit into your retirement budget.

But one part of Medicare planning begins earlier than many people realize.

When clients tell me they're retiring, the conversation almost always begins the same way. They talk about freedom.

Freedom from alarm clocks. Freedom from deadlines. Freedom from endless meetings, office politics, and the Sunday evening feeling that Monday morning is just around the corner. They're looking forward to sleeping in, traveling more, spending time with family, and finally enjoying the life they've spent decades working to build.

For much of our lives, homeownership is viewed as an important financial goal. Many people spend decades working toward owning a home, paying down a mortgage, building equity, and creating a place that reflects years of memories and accomplishments.

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.