PUT YOUR LEGAL DOCUMENTS IN PLACE NOW
Everyone should have at least a will, living will, durable power of attorney and healthcare power of attorney in place, said Roseman. “Whatever age you are, don’t wait,” Roseman said. “There is no guarantee that you will make it to retirement. A living trust is also a good document to look into because of its ability to avoid probate and lower estate settlement costs.”
When you put together a will or trust it might also save you on taxes because most estates are entitled to generous tax exemptions. You can provide yourself income during retirement while still leaving your money or assets to your heirs tax-free after your death.