A U.S. News article reports on results from a study fielded by Koski Research among Americans within five years of retirement. The results of the study fielded by Koski Research found that while most feel they have done a good job preparing for retirement, there are still some necessary steps, for example, paying one's self a steady income while retired, that they are not yet prepared.
These findings helped contribute to a set of tips that individuals should consider as they approach retirement, and include:
* An overview of one's financial situation
* Having at least a year's worth of expenses on hand, in cash
* Dividing expenses into two categories: "Essentials" and "Discretionary." And, plan to cover "Essentials" with a steady source of income
* Re-balancing one's portfolio every year, and
* Maintaining flexibility