Page 13 - 2018 How to Retire from Florida
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Question #10:
How Do I Get Started?
To avoid making the mistakes that many • The Exit Process
retirees make, you need to learn what they • What forms are needed?
are and how not to make them. Don’t • How to fill out the paperwork?
procrastinate! If you indeed want to take • Your FRS … What are your options?
control of your retirement, you need a • What happens to your sick days?
an action plan. • Deferred Retirement Option Plan
(DROP) … How to spend or invest
Here’s the checklist:
your DROP?
1. Retirement Income & Expense Plan • 403(b) or 457(b) plans … When
should you start taking withdrawals?
This complimentary planning process • Social Security Income … At what
examines all your retirement income age should you start taking payments?
sources (FRS Pension, Social Security, • How the health insurance subsidy
DROP, Sick Leave, 403(b), 457(b) plans works
and IRAs). The plan also reviews your Future workshops are listed on
and projected expenses in retirement.
www.dropadvisorycouncil.com
You will get recommendations on how to
make your DROP money last a lifetime. 3. Decisions You Must Make
You also will get recommendations on • How will you make your DROP last a
how to reduce expenses and how to lifetime
spend down your qualified plan assets • Decide when to start receiving Social
and other assets in retirement to make Security benefits
them last as long as possible. • Understand your FRS option and payments
• Choose your health insurance provider
This plan will give you a road map for • Review your Sick Pay/Vacation Plan
retirement. • Understand how to invest your money
after retirement
• Manage your income and expenses once
2. Attend a Retirement Ready Workshop you retire
This educational workshop will help you
prepare for your retirement.
The topics include:
• Steps you need to take to get ready
for retirement 0
