Pre-Retirement Checklist: 10 Action Steps for Nurses 5 Years Before You Retire

The five-year window before you stop working is the most critical period for your financial future. While many CRNAs and nurse practitioners (NPs) focus solely on saving, the transition to retirement requires a shift toward strategy. In this episode, Brett Fellows, CFP®, shares a 10-point checklist designed specifically to help both CRNAs and NPs manage health insurance gaps, mitigate IRMAA surcharges, and turn decades of savings into a sustainable retirement paycheck.Brett covers:Why strategy matters more than accumulation when you are five years outHow to calculate your true retirement spending instead of just replacing your incomeThe hidden Medicare cost shock (IRMAA) that high-earning nurses need to understandWhy your 403(b) might be a tax time bomb and how Roth conversions can helpHow to bridge the health insurance gap if you retire before age 65The guaranteed 8% return from Social Security and how to decide when to claimA smarter withdrawal strategy to stay in lower tax bracketsWhy your beneficiary designations matter more than your willYour retirement paycheck should include your hard-earned money, without the tax trap. #Retirement #NP #CRNA #RetirementPlanningKey Timestamps:(0:20) The Critical Five-Year Window(2:19) Step 1: Set Your Target Retirement Date(3:19) Step 2: Know Your True Retirement Expenses(4:44) Step 3: Take Inventory of Your Accounts(5:50) Step 4: Health Insurance Before Medicare(6:54) Step 5: Start Learning About Medicare & IRMAA(8:19) Step 6: Understand Your Social Security Options(9:33) Step 7: Consider Roth Conversions(11:11) Step 8: Create a Withdrawal Strategy(12:18) Step 9: Simplify Your Accounts(13:06) Step 10: Get Your Estate Documents in Order(13:58) Case Study: The Five-Year TransformationFor more information and resources related to this episode, please visit the show notes.