Schedule an appointment. Click here to schedule an appointment with your VALIC financial advisor or call 1-800-327-9236. Now that you've done the hard work of accumulating, planning and carefully growing your retirement savings, it is time to focus on how you will use the money in retirement. As you get closer to retirement, it is critical that you plan carefully. Mistakes made when you are preparing to rely on that money for income can potentially be costly. Following are a few important areas to consider: 1 Calculate your retirement expenses What are your retirement plans? Figure out what your retirement lifestyle will likely cost each year. 2 Develop a retirement income plan Don't outlive your income. Determine how much to expect from Social Security, your retirement plan, inheritance, etc. 3 Check your insurance coverage Review your life, health, homeowners and auto insurance coverage for suitability for life in retirement. Consider other medical expenses your employer covered. 4 Get familiar with Medicare Medicare Part A covers hospital, hospice and home healthcare. Part B covers doctors, outpatient and other medical services. Consider long-term care and supplemental "gap" insurance. 5 Review wills, trusts, powers of attorney and beneficiaries Plan for the possibility that you or your spouse could be incapacitated and have special needs. Also consider what you want to leave to heirs. 6 Prepare for healthcare expenses You can't plan for accidents or emergencies. You can, however, set aside a financial buffer so an emergency won't jeopardize your family's lifestyle. 7 Don't go it alone Contact your VALIC financial advisor. VALIC advisors have the experience and our powerful proprietary calculators to help you project your income needs and resources, plan your investments, and sort through all the important decisions you need to consider before you make any costly mistakes. Click on the link below to arrange an appointment with your advisor. [ BACK TO TOP ] Click here to schedule an appointment with your VALIC financial advisor today or call 1-800-327-9236. This information is general in nature and may be subject to change. Neither VALIC nor its financial advisors or other representatives give legal or tax advice. Applicable laws and regulations are complex and subject to change. Any tax statements in this material are not intended to suggest the avoidance of U.S. federal, state or local tax penalties. For legal or tax advice concerning your situation, consult your attorney or professional tax advisor. Annuity contracts are issued by The Variable Annuity Life Insurance Company. Annuities and mutual funds offered by VALIC are distributed by its affiliate, American General Distributors, Inc., 2929 Allen Parkway, Houston, Texas, 77019, member FINRA. VALIC represents The Variable Annuity Life Insurance Company and its subsidiaries, VALIC Financial Advisors, Inc. and VALIC Retirement Services Company. Copyright © The Variable Annuity Life Insurance Company. All rights reserved.