Core Insights - Retiring comfortably requires more than just savings; it involves addressing financial loose ends to avoid costly problems in retirement [1] Group 1: Debt Management - Carrying high-interest debt into retirement, such as credit cards and personal loans, can severely impact financial stability, especially when transitioning to a fixed income [2][3] - It is crucial to be debt-free before retirement, as there will be no overtime or bonuses to help manage debt payments [3] Group 2: Long-Term Care Planning - Long-term care is a significant and often underestimated expense for retirees, with nearly 70% of individuals aged 65 and above expected to require some form of it [3][4] - A plan for long-term care is essential, as Medicare does not cover these costs, making it one of the largest expenses in retirement [4] Group 3: Tax Planning - Retirement income sources, such as 401(k) plans, Roth IRAs, and Social Security, come with different tax implications, necessitating a tax plan to avoid unnecessary burdens [4][5] - Understanding when and how to access retirement funds is critical for minimizing overall tax liability [5] Group 4: Cash Management - Keeping large amounts of cash at home may seem safe, but it loses value due to inflation, making it advisable to utilize high-yield savings accounts or other interest-bearing options [6] - High-yield savings accounts currently offer annual interest rates of 4% to 5%, providing an opportunity to earn on idle cash [6] Group 5: Retirement Account Organization - While diversifying retirement investments is beneficial, having multiple retirement accounts can complicate financial management, particularly with required minimum distributions (RMDs) [7]