A Checklist for Financial FitnessMoney can be a difficult issue at any age, but financial planning is especially important for yourretirement years. You will want to have enough resources to enjoy your time, and to take care of anyhealthcare problems or other emergencies that may arise. Of course, financial planning does not end atretirement—you need to re-evaluate your plan annually. Fortunately, useful financial tools and other resources are available on the Internet, in books, and at thepublic library. A variety of professionals can also assist in financial planning. Here are some issues youshould consider as you plan for and enjoy retirement.Know What You Need.Saving for a long and productive life can be challenging, but you can and should do it. The first stepis to determine how much money you will need each year to live comfortably. This will require acareful examination of your income, resources, and expenses. It will also require that you makedecisions about the kind of lifestyle you want throughout your retirement.Know What You Have.Social Security, pensions, savings accounts, IRAs—it all counts. When planning your financial future,include all sources of income. Don't forget rental property and bank certificates of deposit. Even yourSavings Bonds count. Read all the statements you receive from your pension fund, Social Security,401(k), and IRAs. If you see a mistake or inaccuracy on any statement, contact the plan administratorand have it corrected immediately.Re-Evaluate Your Financial Plan.Don't "set it and forget it." A lot can happen between now and your retirement, as well as throughoutyour retirement years. Re-evaluate your retirement savings plan each year to stay on track. You maywant to consult a professional financial or investment planner to maximize your savings potential.Increase Your Savings.If you can, contribute the maximum amount to all of your eligible tax-deferred retirement savings,including your 401(k) plan and IRAs. To take full advantage of these tax benefits, you may have toadjust your spending habits or forego some unnecessary spending, such as weekly dinners out. Buteverything you can save during employment will pay off in the long run!FEATURE ARTICLETrack Your Expenses.Write down everything you spend for three months. Don't rely on memory (which can be unreliable), butmake entries every day in your expenses journal. When you review your record, you might be surprised howmuch you spend on things you really do not need. All expenditures that you can cut from the "unnecessaries"can be added to your retirement fund.Pay Off Those High-Interest Credit Cards.Credit cards are incredibly convenient, but carrying debt from month to month can cost you a lot of moneyin interest charges. Make it a priority to pay off your credit card balances every month. When you choose acredit card, look for one with a low interest rate. It can make a big difference.Organize Your Financial Documents.Do you know where your insurance policies are? How about your will? Take the time to organize all yourimportant financial documents. Keep them in a safe place. Let your family members, your legalrepresentative, or a trusted friend know where they are located and make sure they can be accessed.Cover Your Healthcare Costs.Longer life expectancies mean greater chances of medical problems during retirement. Be sure thathealthcare is part of your retirement plan. Take time to review your insurance policies, so you know what iscovered and what is not. You might want to purchase insurance that would pay for long-term healthcare, suchas home care and care in a long-term care facility, in case you experience an extended illness. The cost oflong-term healthcare insurance will depend on your age at the time of purchase, the amount of coverage youget, and other policy features. Planning ahead can save you substantial amounts in the future.Become An Educated Investor.Get help from a financial professional or consider enrolling in a financial education class to betterunderstand how to manage your money for all your retirement years. Books, magazines, Internet sites,seminars, and classes are available for the financial do-it-yourselfer. You may need to do a little research,and your local public library is a great place to start. If you decide you would rather have expert advice, awide variety of professionals are available to help you prepare for a financially secure future.