Lifestyle, Savings and Retirement

Retirement checkup: A smart step in year-end financial planning

Couple walking on beach

As another year winds down, it’s the perfect time to take stock of your finances and ensure you’re on track for the future you want. Along with reviewing your budget, insurance coverage and savings, now is also a good time for a retirement checkup.

Why review your retirement plan now?

Your retirement plan is designed to help you build a steady income for the future, but like any financial tool, it works best when reviewed regularly. Year-end is ideal because you may still have time to make adjustments that could impact your tax strategy and long-term outlook.

A quick review can help answer questions such as:

  • Are you contributing enough to meet your future goals?

  • Does your retirement strategy still align with your retirement timeline and lifestyle plans?

What to look for in a retirement check-up

When reviewing your retirement plan, you may want to consider:

  • Contribution levels: Can you increase contributions before the end of the year? Even small adjustments can grow over time.

  • Beneficiaries: Are they up to date and still reflect your wishes?

  • Tax benefits: Are there opportunities to reduce taxable income this year through additional contributions?

  • Does your plan still align with your retirement timeline and lifestyle goals?

The bigger picture

Just like teaching requires a well-rounded approach, your financial plan does too. Reviewing it now ensures you’re building a comprehensive strategy. Whether you are looking for the potential of guaranteed income or growth potential, it’s important to ensure all parts of your plan are working together.

Take action before the year ends

Before the calendar flips, schedule time to meet with a Horace Mann agent. We specialize in helping educators like you review your financial picture and make adjustments that support your long-term goals.

A quick checkup now can uncover opportunities to strengthen your financial future, maximize potential tax benefits, and give you confidence heading into the new year.

Speak with a Horace Mann representative today to review your plan and learn what options may be available before year-end.

The information provided here is for general informational purposes only, and not intended to be a recommendation nor substitute for specific individualized tax, legal, or investment planning advice. Each investor needs to create an investment strategy for his or her own particular situation before making any investment decisions. Guarantees are backed by the claims-paying ability of Horace Mann Life Insurance Company.