Am I prepared to retire?
What do you want your retirement to look like — financially or otherwise? Use these tools and resources to help you know key questions to ask and things to consider as you look toward your retirement horizon.
- Make a list of your retirement goals using the Retirement Goals Worksheet.
- Create a budget for retirement using our Retirement Budget Worksheet.
- Evaluate and organize your assets with our Retirement Planner Calculator.
- Consider consolidating your assets to achieve your goals using this Rollover Consideration Article and Rollover tool.
Are you a global worker moving back to the US from life overseas? Visit the Global Workers Resource Center for personalized resources to help you transition well!
Learn MoreAm I on track?
Have you reviewed your contributions recently? What about your investments? How do they align with your dreams and goals for retirement? It’s important to periodically increase your contributions and evaluate your investment choices to help ensure you are on track to finish well.
Watch this video to learn about being properly invested.
Take these steps towards being on track:
- Check your Contribution Limits.
- Increase or catch-up contributions inside your MyGuideStone® account.
- Evaluate your allocations and risk tolerance using the Retirement Portfolio Models.
- Check out the three investment approaches GuideStone has built for all types of investors.
Age-Related:
Age 50: You can now make catch-up contributions that exceed the normal limits of a 401(k), 403(b) and on an IRA.
Learn MoreHow will I receive a paycheck or income in retirement?
Since the beginning of your career, you’ve been saving for retirement — and soon, you will decide how to receive your retirement income. These tools and resources will help walk you through key decisions and help you prepare for your next phase of ministry.
- Learn about the GuideStone withdrawal strategy:
- Calculate your Retirement Income Need.
- Determine your surplus and shortfall.
- Understand your GuideStone Retirement Savings paycheck options:
- Using our Retirement Income Solutions Workbook.
- Determine your best Withdrawal Strategy Plan.
- Get your GuideStone Retirement Income Estimate using the Retirement Income Estimate Tool.
Age-Related:
Age 73: The IRS mandates Required Minimum Distributions (RMDs), unless you are still working through the end of the year.
What do I need to consider with Social Security?
From Social Security eligibility to receiving your benefits, use these tools, resources and key ages to help you make important decisions at the right time.
- Determine if you are eligible for Social Security using our Guided Social Security Maximization Resource.
- Estimate your Social Security payments using the Social Security Calculator.
- Sign up for your my Social Security Account.
- Decide when you will start receiving Social Security payments.
Age-Related:
Age 62: You can begin Social Security payments, but they may be 30% less than if you decide to wait to receive full benefits.
Age-Related:
Age 67: Access full benefits of Social Security payments (Age 67 applies to those born 1960 and later. For those born prior to 1960, will be age 66 and X months.)
Age-Related:
Age 70: If you have not accessed Social Security, register now! Your payments have reached full potential.
What other benefits am I eligible for?
Have you considered how Medicare works in retirement? And if you’re a minister, do you know how to designate housing allowance in your later years? It is important to know which specific benefits affect you. These resources provide information help you finish well.
- Tax considerations:
- Review our Ministers’ Housing Allowance FAQs to understand how this may benefit you.
- Learn more about Ministerial Tax Issues and how they may pertain to you or ministerial staff in retirement.
- Find out if your state has a cap on property taxes based on age through your state's website.
What insurance should I consider?
Medicare, life insurance and long-term care are topics that may seem far away, but having the knowledge, resources and conversations now prior to these complex decisions can help alleviate stress and uncertainty for you and your loved ones.
- Medicare
- Find out if you are eligible for Medicare with the Medicare Eligibility Tool.
- Visit Medicare.gov or view their step-by-step guide on basics, sign-up and coverage.
- Read these Medicare FAQs.
- View the Forward Thinking: Social Security & Medicare Webinar.
- To learn more about Medicare-coordinating plans at GuideStone, please call 1-844-INS-GUIDE (1-844-467-4843).
Age-Related:
Age 62½ (Six months prior to turning 65): Find out if you are eligible for Medicare.
Age-Related:
Age 65: Welcome to Medicare! (Even if you are covered by a major medical group coverage, enroll in Medicare Part A unless you are contributing to a Health Savings Account (HSA).
- Life Insurance Adjustments
- Comprehensive Life Insurance Analysis.
- Learn about these “Seven Reasons to Review Your Life Coverage”
- Use this Life Insurance Calculator to find out how much life insurance you will need.
- Learn more about safeguarding your family’s future with this article.
- Did your spouse stay-at-home? Find out how life insurance will affect them with this article: “Stay-at-home Spouse Life Insurance”.
- Long-term care considerations
- Learn more about Long Term Care Cost & Considerations.
- Determine if you will be financially prepared for Long Term Care Calculator.
- Prepare your family members for the days to come. Check out thesethree points of discussion for your family.