Financial concerns are often the driver of one’s retirement planning. One may be unsure of whether they can afford to retire or what one’s daily life will look like on a reduced income. These issues may play a role in precipitating depression. So it is important to arm yourself with both information and guidance to address one’s fears for the future early on before they can overwhelm the greater picture.
There is a wealth of in-person and online seminars one can watch as well as books one can read. The AARP’s Retirement Planning Guide includes financial calculators, information about social security, and other topics. The Lawyer’s Retirement Planning Guide is a current book you can order online that customizes its advice for attorneys. This Seattle Times article explores how much one should save for retirement. The NY Times has a useful section of their website dedicated to retirement finance.
In addition, a consultation with a financial advisor with expertise in addressing retirement is important. If you have an online retirement account with Vanguard, Schwab, Fidelity or another low cost brokerage firm they have an abundance of videos about retirement and advisors you can meet for a consultation.
Checklists for closing your practice
Life after retirement
Approaches to exiting the practice
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