Buy These 5 Things Before You Retire, According to Kevin Lum

Core Insights - Preparing for retirement involves not only saving money but also making strategic purchases ahead of time to avoid higher costs and financial stress later Group 1: Key Purchases Before Retirement - Securing healthcare and dental work before retirement is crucial as plans tend to be more expensive and less comprehensive afterward [2][3] - Buying a home before retirement is beneficial due to greater buying power and easier mortgage qualification while still earning W-2 income [4][5] - Completing major home repairs, such as HVAC system replacements, is advisable while still earning income to avoid financial strain later [6] - Purchasing a reliable, low-maintenance car and paying it off before retirement can significantly reduce stress during retirement [8] - Prepaying for bucket list experiences, such as dream trips, can alleviate financial pressure and help in planning for future enjoyment [9] Group 2: Recommendations on Timing - It is recommended to consider moving or downsizing before quitting a W-2 job to take advantage of better financial conditions [5] - Upgrading home efficiency features like windows and insulation is suggested to save on costs, especially since retirees may spend more time at home [6] - From a psychological perspective, spending from savings while still working can be easier, making it beneficial to make these purchases before retirement [7]