Many people anticipate retirement– after all, most of us save money throughout our working lives to fund our golden years when we'll have more time to do what we take pleasure in. However, it's difficult to do detailed planning if you haven't identified, at least roughly, what you want to attain in retirement. To put it simply, the first step for retirement preparation is to imagine what you desire your retirement to look like. Without a vision or objective, you can't make a reliable strategy. As soon as you take this primary step of visualization, you can begin to take more concrete actions to make it occur.

On this episode of Financial Decoder, host Mark Riepe talks with Patrick Method, vice president and branch manager at Schwab. They discuss a series of concrete steps that are consisted of on what we call the pre-retirement list. To put it simply, what do you need to look after in the handful of years, months, and days before you retire?

To hear more about the power of lists, listen to the Choiceology episode "An Effective Failure ()."

To read the research study Mark references about active and passive danger taking, Take a look at "Differentiating Passive from Active Threat Taking: The Function of Self-Control and Time Viewpoint ()" from the Journal of Behavioral Decision Making..

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Financial Decoder is an original podcast from Charles Schwab. For more on the series, visit Schwab.com/ FinancialDecoder ()..

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