SPAN: about 20 years

INCOME NEEDS: low to moderate

TOP EXPENSES: home modifications & dental costs

Relax is what we call Middle Retirement. 

Life slows down a bit. This phase lasts about 20 years. Perhaps you are now spending more time with family and have done a lot of those things you had always wanted to do. It is a comfortable time period where you develop your own routines and spending often declines here.

Many people downsize during these years. In this phase, you very likely start needing more support. Whether it’s help around the house, medical care needs or simply a family member helping you out once in a while. You will likely encounter at least one of these during this phase. Even with the added help, your income needs are usually relatively lower because your lifestyle expenses have reduced.

It is important in this phase to make sure your finances are set up in a way to simplify your estate. You want to make sure your financial structure is the best to minimize taxes and allow for your estate to do the things you want done. Also, be sure to keep communicating with your family members to make sure they know your preferences for care now or in the future. Make sure to have all your important documents in one place to easily access when needed.