How an Accountant Can Help You Prepare for Retirement

Prepare For Retirement

A lot of people look forward to the day they can retire. The day they can step away from work and live entirely for themselves. No more schedule, no more obligations, no more hierarchy. It’s a pleasant dream, but it could turn into a nightmare if you haven’t prepared properly for it.

At Hacker Accounting, we know how much of a difference an accountant can make when it’s time to retire. Here are a few ways that an accountant can help you prepare for retirement.

Related: How Your Tax Return Can Help You Save Money

Estate Planning

One of the most confusing and tedious parts of retiring is planning your estate. It can especially difficult if you own multiple properties or if you have multiple benefactors for your estate. An accountant can help you figure out how to divvy up your assets and how to protect them so they go to the right people for the right reasons. They can also make suggestions on how to invest and re-distribute your estate.

Good Habits

An accountant can look over your savings and earnings and spending habits and detect patterns. They can see where you’re most wisely investing your money, just as much as they can see where you’re losing money. Perhaps you spend way too much on certain amenities, or perhaps you’re overpaying on your house’s upkeep. They can find ways for you to cut corners, tighten your belt and save your money. Getting a better handle on how you spend and save your money can put in much better financial shape when you’re ready to retire.


Retiring will effect how you file your taxes. An accountant can prepare you for this transition by properly preparing and filing your retirement contributions. They can also help you set up a fund before you retire, so you can put myself to shore up your nest egg.

Financial Advice

Accountants can do a lot more than keep your books and take care of your taxes. They’re also financial experts who can give you life-changing financial advice. They can help you find the right pensions, properties, assets and business opportunities to invest in. A savvy investment that pays off is a great way to start your retirement, and your accountant has the knowledge and know-how to help you pick a winner.

Social Security

An accountant can also help you figure out when and how you can begin drawing your Social Security benefits. They can also advise you on how to take a distribution from a pension plan, and help you structure your IRA so you can maximize your savings over time.

Related: Which Receipts Should I Save?

Looking for more tax tips? Give Hacker Accounting a call at 603-375-5251.


Chris Hacker
Chris has been working in the bookkeeping and accounting field for over 15 years preparing business, income and payroll taxes. Chris has a bachelor’s degree from Arizona State and is an Enrolled Agent with the Internal Revenue Service.