Northwestern Mutual

Visualize Your Retirement Before You Develop a Budget

Your retirement budget depends on what you plan to do with your time. Learn why you should develop a vision of your ideal retirement to help you determine your income needs.

To know where you stand with your retirement planning, first you need to know where you’re going. Give your retirement a test drive before you transition to not working. Think through the specifics of what you’ll do each day and which activities, organizations, and people will get your time and resources. Be sure to distinguish between wants (travel and leisure activities) and needs (housing, food, transportation, health care costs, taxes). Only then can you determine your budget and income needs.

Learn more about creating guaranteed income in retirement by watching the entire webcast Receive a Lifelong Paycheck: Guaranteed Income in Retirement.