- Consolidate and automate. Fidelity estimates that many pre-retirees expect to juggle more than nine sources of income in retirement, so it is important to start consolidating the retirement accounts you will use to generate your income.
Automate as many financial transactions as possible, through options such as automatic deposit of your Social Security check and retirement account payouts into your bank account, as well as automatic bill payment of items such as insurance premiums.
Seek out services that allow you to view all accounts from one central source. This will allow you to gain more control and will simplify your life in retirement.
- Get Uncle Sam and others on board for your retirement. Contact the U.S. Social Security Administration to obtain the necessary paperwork to file for your payments and start the income flow.
Work with your employer to finalize all retirement account payout options and make arrangements for payments to begin according to your income plan.
