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CBSMoneyWatch: The Most Important Retirement Planning Questions

Where?

Will you live in your current house? Or will you downsize to something that's in the same general location? Maybe you'd like to move far away or be close to children and grandchildren. Or do you plan to go where your work takes you?

Why is it important to ask yourself these questions? The answers will dictate how much money you'll spend on living expenses, which in turn tells you how much retirement income you need.

For some people, one of these questions is the most important, and your answer to it may dictate or influence your answers to all the other questions. For others, you'll need to consider all these questions at the same time, because they all influence one another.

But don't go it alone. Instead, discuss these questions with your spouse, partner, family and close friends -- people who care about you and are in the same boat. Be open to their points of view without judgment -- you might be surprised at the insights you'll gain. The discussions will also bring you closer together to your family and friends. It's a great use of your time!

(iStock)

More From MoneyWatch:
How Long Will You Live?
Estimate Your Life Expectancy--Change Your Life
Can Boomers Afford to Leave a Legacy?



The opinions expressed are solely those of the author and do not necessarily reflect the views of Comcast.

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