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Asking yourself these important questions before retiring helps rule out any unwanted surprises. Joe Anderson, CFP\xae and Alan Clopine, CPA dig into the email bag to answer your questions. Original publish date January 21, 2017 (hour 1). Note that content may be outdated as rules and regulations have changed.

2:48 \u201cWhen you use debt properly, it can actually be pretty effective.\u201d

9:32 \u201cHere are 18 questions to ask yourself before you retire\u2026let\u2019s start with the first one: what does being retired mean to you?\u201d

13:02 \u201cAbsolutely make sure you communicate what your retirement vision looks like to your spouse.\u201d

16:58 \u201cWhat would you like to add to your life and eliminate from your life?\u201d

20:19 \u201cHow do you feel about downsizing? A lot of our equity and net worth is pent up in our home.\u201d

25:06 \u201cShould I recharacterize my Traditional IRA contributions to a Roth IRA?\u201d

26:12 \u201cVirtually anyone that\u2019s working and has earned income can do a regular IRA contribution as long as you\u2019re under 70 \xbd, however here are a couple stipulations\u2026\u201d

27:31 \u201cIf you\u2019re single and your income is in between $118,000 and $133,000 you can do a partial Roth contribution.\u201d

28:48 \u201cYou can do a Roth conversion regardless of your income level and age, and you don\u2019t have to be working.\u201d

30:33 \u201cRecharacterization means you\u2019re undoing your contribution that you made.\u201d

31:36 \u201cControl is everything when it comes to your money in retirement, because in retirement you actually do have more control over how much you pay in taxes [according to] which accounts you take money out of, and each account may be taxed differently.\u201d