5 Things You Must Do Before You Retire (or Regret It Later)

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1. Build a Cash Reserve for Unexpected Costs

Retirement doesn’t mean the surprises stop. It just means you’ll need a cushion to handle them stress-free.

Having a solid cash reserve keeps you from dipping into investments at the worst possible time.

Here’s why it’s essential:

• Prevents early withdrawals, keeping your retirement savings intact.
  
• Covers emergencies, like medical bills or home repairs.
  
• Brings peace of mind, knowing you’re ready for anything life throws your way.
  

👉 Here's How You'll Do It: Save 6–12 months of living expenses in a separate account you can access quickly but won’t touch often.

Make It Easy: Keep your reserve in a Betterment Cash Reserve Account to earn more interest while staying liquid.

2. Get Rid of Any Debt You Still Owe

The last thing you want in retirement is bills chasing you while you’re trying to relax.

Paying off debt now gives you breathing room to enjoy your freedom later.

Here’s why it’s worth the push:

• Frees up your income, letting your money go toward joy, not payments.
  
• Cuts stress, so your golden years actually feel golden.
  
• Reduces risk, since you’ll be on a fixed income.
  

👉 Here's How You'll Do It: Use the debt snowball method. Pay off the smallest balance first, then roll those payments into the next debt.

Make It Easy: Use Undebt.it to organize debts and visualize your progress toward being completely debt-free.

3. Start Earning Extra Money That Doesn’t Need Your Time

Retirement income doesn’t have to stop with your 9–5.

Setting up passive income streams now means you can relax later while money still rolls in.

Here’s why it’s a game-changer:

• Adds security, since it’s extra cash when you need it most.
  
• Protects savings by reducing how much you withdraw each month.
  
• Gives freedom, letting you focus on what you actually enjoy.
  

👉 Here's How You'll Do It: Invest in income-producing assets or start small side gigs that run without your daily involvement.

Make It Easy: Try Neighbor.com to rent out unused storage space and earn passive monthly income.

4. Plan How You’ll Spend and Save After You Retire

Without a plan, it’s easy to overspend early. and regret it later.

Mapping out your post-retirement budget ensures your money lasts as long as you do.

Here’s what to focus on:

• Separate needs from wants, so essentials are always covered.
  
• Track monthly expenses to see what’s sustainable long-term.
  
• Plan withdrawals wisely to keep taxes and fees low.
  

👉 Here's How You'll Do It: Write down your expected monthly expenses, income sources, and how you’ll adjust for inflation each year.

Make It Easy: Keep a monthly budget binder just for retirement expenses to stay organized.

5. Make Sure You’re Covered with the Right Insurance

Medical bills and emergencies can derail even the best retirement plan.

The right insurance coverage keeps you protected and your savings safe.

Here’s what to review before retiring:

• Health coverage, including Medicare or supplemental plans.
  
• Long-term care, which can protect against massive future expenses.
  
• Home and auto insurance, ensuring you’re fully protected with reasonable premiums.
  

👉 Here's How You'll Do It: Review all policies annually and fill any coverage gaps before you leave full-time work.

Make It Easy: Use Insurify to compare plans and make sure you’re not overpaying for protection.

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