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Preparing for retirement

As retirement gets closer, are you ready? If you're planning to retire in the next 5 to 10 years, now is the time to make sure you're prepared.

The basics of planning for retirement

Not sure where to begin? These articles can help you make sure you're on the right path to retirement.

  1. Finish strong in the retirement homestretch
  2. Saving for retirement, even if you're behind
  3. How a retirement income plan can help during market volatility
  4. Social Security: Why it's important to your retirement
  5. Social Security claiming tips: Look before you leap.
Browse retirement articles

Are you prepared for retirement risks?

See how changes to Social Security, medical costs, inflation and longevity can impact your retirement.

Understanding The Risks of Retirement

Video Duration: 1 minute 12 seconds

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Hey there, I'm Tony Medrano with your Retirement Income Team. In our last video, we shared how to build a retirement strategy to live your best life in retirement.

We believe a balanced approach to retirement can help protect against risks that may impact your retirement outcome.

Here are some risks to consider while planning for retirement:

Personal risks — like spending more than your retirement budget or changes to your family dynamics.

Legislative risks — this includes changes to taxes or retirement plans and the future of Social Security.

Health-related risks — these can come in many forms such as large, unexpected medical costs or diminished capacity to manage your own finances.

Investment risks — like Inflation and market risk.

Longevity risk — while a long life can be a great problem to have, you run the risk of outliving your money.

Longevity risk is the most important to think about. If you live a long life with a long retirement, there's a higher likelihood the other risks may disrupt your retirement plan.

How USAA can help: Elapsed time 52 seconds [00:52]

But through planning, you can mitigate these risks. And we're here to help! We have Retirement Income Specialists that are well-versed in risk management.

You can learn more at usaa.com/retirement. You can also schedule a call or call us directly at 800-531-3392.

Description of visual information: [Life insurance and annuities provided by USAA Life Insurance Company, San Antonio, TX and in New York by USAA Life Insurance Company of New York, Highland Falls, NY. All insurance products are subject to state availability, issue limitations and contractual terms and conditions. Each company has sole financial responsibility for its own products.] End of description

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Investments to help grow and protect your retirement savings

Consider the following options to help grow your retirement savings:

Annuities

Income annuities are insurance products and protected from market volatility. They offer a simple, reliable solution to retirement income needs.

Learn more about annuities

Basics of annuities

IRAs and Rollovers

Changes in your income, tax situation and age are important factors to consider as you manage your individual retirement accounts and consider yearly contribution limits and withdrawal restrictions.

Learn more  about IRAs and rollovers

IRAs as part of a retirement solution

Brokerage Account

As you near retirement, review the asset allocation for your investments and how your individual security selection, tax situation and the market may impact what you can spend in retirement.

Learn more about brokerage accounts

Make your money last

Automated Investing

A robo-advisor can help manage retirement accounts and automate rebalancing your portfolio as factors like risk tolerance change as you near retirement.

Learn more about automated investing

Guide to robo-advisors

Financial Planning

Whether you're focused on a single goal like retirement or have more complex planning and wealth needs, a trusted advisor can help set you on the path to success.

Learn more  about financial planning

What to ask a financial advisor

Protect your health and family

As you get ready to retire, make sure your financial plan includes the tools you'll need to enjoy the quality of life you're used to.

Life Insurance

Life insurance can help your loved ones pay for things like daily expenses, a mortgage, education and medical bills, as well as other benefits.

Learn more about life insurance

Policies with cash value

Health Insurance

Medical expenses can wipe out your savings. As retirement approaches, it's important to make sure you have the coverage you need to avoid future financial strain.

Learn more about health insurance

How health impacts retirement

Long-Term Care

It's hard to predict how healthy you’ll be later in life. Long-term care insurance can help you save on out-of-pocket expenses if you need support for everyday living.

Learn more about long-term care

Planning for long-term care

Supplemental Health Gap Insurance

Medical bills can add up, even with health insurance. A supplemental policy can help protect your hard-earned savings by covering some of the health care costs your primary insurance doesn't, like vision or dental.

Learn more about supplemental health gap insurance

Supplemental health insurance

Trust & Will Estate Planning

Creating an estate plan or establishing a living trust can help you prepare for significant life events during retirement.

Learn more about Trust & Will estate planning

Estate planning checklist

Ready to plan your ideal retirement?

USAA Life Insurance Company Retirement Income Specialists can help ensure you have a retirement income plan that aligns with what's most important during your retirement: Enjoying the life you've worked hard to build. We may refer you to a trusted provider to help fully address your needs.

Schedule a call  with a Retirement Income Specialist

Call 800-833-9847

For TTY devices, dial 711

Hours of operation for our financial professionals

Monday to Friday:
7:30 a.m. to 8 p.m. CT
Saturday
Closed
Sunday
Closed

Note: Days and times may vary.

Leaving the military?

USAA can help you prepare for the transition to civilian life with resources like job-hunting tools, a military separation assessment and a transition checklist.

Learn more about leaving the military resources

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Need help with something else?

Related life events

  • Grow Your Wealth
  • Living in Retirement

Additional products

  • Mutual Funds
  • Dental Insurance
  • Vision Insurance
  • Medicare
  • Additional Health Insurance

Additional resources

  • Social Security Calculator
  • Deferred Annuity Calculator
  • Immediate Annuity Calculator
  • IRA Required Minimum Distribution Calculator

Important information from USAA Investment Services Company (ISCO):
Review our relationship with you in our Relationship Summary PDF.

ISCO is not a client of Schwab. ISCO is compensated by and has an incentive to promote Schwab. However, these costs are not passed on to USAA members. Download USAA's Referral Arrangement Disclosure PDF.

Important information from USAA Investment Services Company (ISCO):
Review our relationship with you in our Relationship Summary PDF.

ISCO is not a client of Schwab. ISCO is compensated by and has an incentive to promote Schwab. However, these costs are not passed on to USAA members. Download USAA's Referral Arrangement Disclosure PDF.

Related footnotes:

  1. Investment and Insurance Products are: Not Insured by the FDIC or Any Federal Government Agency; Not a Deposit or Other Obligation of, or Guaranteed by, the Bank; and Subject to Investment Risks, Including Possible Loss of the Principal Amount Invested.

  2. This material is for informational purposes. Consider your own financial circumstances carefully before making a decision and consult with your tax, legal or estate planning professional.

Related footnotes:

  1. USAA means United Services Automobile Association and its affiliates.

  2. An annuity is a long-term insurance contract issued by an insurance company designed to provide a retirement income stream for life. Once the contract principal is converted into an income stream, you will no longer have access to your principal as a lump sum. Terms, conditions, limitations and surrender charges may apply.

  3. USAA Life General Agency, Inc. is not affiliated with Trust and Will or Huge Legal Technology Company, Inc., nor do we guarantee the quality of their products or services. Although we receive compensation from and may promote and/or recommend the products offered by these companies, consumers should review the product carefully prior to making a purchasing decision.

  4. This content is provided for information purposes only. Estate planning and probate services are provided by Trust & Will, an online service providing legal forms and information. Trust and Will is not a law firm and they do not provide legal advice.

  5. USAA Investment Services Company (ISCO), a registered broker-dealer and a registered investment adviser, provides referral and marketing services on behalf of Charles Schwab & Co., Inc. (Schwab), a dually registered investment adviser and broker-dealer. Schwab compensates ISCO for these services.

  6. Life insurance and annuities provided by USAA Life Insurance Company, San Antonio, TX and in New York by USAA Life Insurance Company of New York, Highland Falls, NY. All insurance products are subject to state availability, issue limitations and contractual terms and conditions. Each company has sole financial responsibility for its own products.

  7. Health insurance solutions provided through USAA Life General Agency, Inc. (LGA) (known in CA and NY as USAA Health and Life Insurance Agency), which acts as an agent for select insurance companies to provide products to USAA members. LGA representatives are salaried and receive no commissions. However, LGA receives compensation from those companies, which may be based on the total quantity and quality of insurance coverage purchased through LGA. Plans not available in all states. Each company has sole financial responsibility for its own products.

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