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5 Questions You Must Ask Before You Retire

A comprehensive guide to retirement planning, focusing on income, taxes, long-term care, and estate planning. Sebastian Guerra from Guerra Wealth Advisors discusses five critical questions families should ask before retiring, Case study of Mark and Linda, a couple in their early 60s with $2.5 million in investments. Mark and Linda needed $9,500 monthly to maintain their lifestyle, with income sources including Social Security, rental property, and retirement accounts. Through strategic planning, they developed a bucketing strategy, tax optimization approach, and hybrid long-term care policy to secure their financial future. 5 critical questions to ask before retiring: ✅ How much money income will you need every month? ✅ Where will your retirement income come from? ✅ How much will you be paying in taxes during retirement? ✅ What happens if one of your needs long-term care? ✅ What legacy or estate plan do you have in place? Key Takeaway: Effective retirement planning requires a holistic approach that addresses income, taxes, healthcare, and legacy, transforming retirement from a hope to a purposeful, strategic transition. ⏱Timestamps: 00:00 - Introduction 00:42 - Mark and Linda 01:50 - How much money income will you need every month? 03:38 - Where will your retirement income come from? 05:39 - Bucketing Strategy 07:38 - How much will you be paying in taxes during retirement? 12:34 - What happens if one of your needs long-term care? 17:28 - What legacy or estate plan do you have in place? 21:08 - Closing Thoughts