Are you planning on retiring in the next year or two? Here are some things you should do to be prepared

1. Look at your spending. Many people think that all they will need to pull from their investments in retirement is 4% of what they have accumulated. Does this apply to you? In my experience, the 4% rule does not work for everyone. We look at many different expenses of everyday life, plus inflation when planning the withdrawal stage for my clients.

2. What does your portfolio look like? What I am asking is; what is your mix between cash, equity funds, and income funds? Do you have quality funds that will stand the test of time and your changing income needs?

3. Plan for taxes and inflation. These two items will potentially take the biggest bite out of your retirement nest egg. Taxes tend to be the biggest unknown when planning for retirement because as our leaders change, often the taxes change. As far as inflation goes, depending on the CPI used at any given time to calculate inflation, we have no idea if rates will go up or down.

4. Take control of your retirement. You can control the outflow of funds and make sure you have regular reviews with your CFP professional to make sure you stay on track.