Retirement Planning: 1 to 3 Years Before Retirement, Part 1
Assemble Your Retirement Plan
Learn the details. Fidelity recommends working with your employer for retirement planning, to clarify the details of your benefits and the decisions you need to make, including your payout options. Keep in mind that some decisions cannot be changed once you have retired.
Create a retirement budget. Map your retirement planning fundamentals, including a detailed plan of your estimated expenses. These plans will determine your lifestyle, so be sure to include inflation costs in your retirement budget. If the lifestyle you want will cost more than you expect, you may need to consider working part-time during retirement, reducing expenses, or postponing your retirement date to meet your goals.