Originally aired on KAOX, KID, KNRS, and KSL

The Three Stages of Retirement: Your Complete Guide to Planning Go-Go, Slow-Go, and No-Go Years in Utah

Published: February 15, 2025 Author: Mike Stevens, Capital Wealth Advisors Episode: Retire Right Radio, February 15, 2025

Originally aired on KAOX, KID, KNRS, and KSL. This comprehensive guide is based on the February 15, 2025 episode of Retire Right Radio with Mike Stevens, founder and president of Capital Wealth Advisors.

---

Introduction: Why Most Retirement Plans Fail in the Real World

Picture this: You've saved diligently for 30 years, following every piece of conventional retirement wisdom. You've hit the magic million-dollar mark that those Super Bowl commercials promised would guarantee a comfortable retirement. But as you sit in your Draper home, contemplating retirement, a nagging question keeps you awake at night: "How do I know this money will actually last?"

Here's the uncomfortable truth that most financial advisors won't tell you: retirement isn't a flat line where you spend the same amount every month for 30 years. The reality is far more complex – and far more interesting. Your retirement will unfold in distinct stages, each with different needs, different spending patterns, and different priorities.

Recent studies show that 69% of baby boomers plan to "age in place," staying in their current homes throughout retirement. Meanwhile, 75% plan to leave their home or its proceeds to their children. But here's the critical question: have you actually planned for how your spending, healthcare needs, and lifestyle will evolve through the various stages of what could be a 30-year retirement?

Whether you're dreaming of skiing Park City's slopes in your go-go years, enjoying quiet time with grandchildren during your slow-go years, or ensuring dignified care during your no-go years, understanding these three distinct phases is crucial for creating a retirement plan that actually works in the real world.

Today, we're going to walk through each stage of retirement, explore the unique challenges and opportunities of each phase, and show you how to create a comprehensive plan that adapts to your changing needs throughout your golden years.

---

🔑 Key Takeaways

Three-Stage Reality: Retirement unfolds in distinct go-go, slow-go, and no-go phases, each requiring different financial strategies and spending patterns

Front-Loading Strategy: The average retiree should plan to spend more in early retirement (go-go years) when health and energy levels support active pursuits

Healthcare Cost Explosion: The average 65-year-old couple can expect to spend over $315,000 on healthcare costs during retirement – and that's after taxes

Aging in Place Trend: Nearly 70% of baby boomers plan to stay in their current homes throughout retirement, requiring specific financial and healthcare planning strategies

Legacy Planning Reality: 75% of homeowners plan to leave their homes to family members, but most haven't optimized the tax implications of this strategy

---

Understanding the Three Stages: More Than Just Age Brackets

Stage 1: The Go-Go Years (Typically Ages 65-75)

The go-go years represent the honeymoon phase of retirement. You've just escaped the daily grind, your health is generally good, and you have both the energy and financial resources to pursue dreams that were postponed during your working years.

Characteristics of Go-Go Years:

• High energy and good health
• Active social life with peers in similar life stages
• Desire to travel and explore
• Willingness to take on new hobbies or adventures
• Higher discretionary spending on experiences
• Freedom to be spontaneous with time and money

Utah-Specific Go-Go Opportunities:

• Skiing and Winter Sports: Utah's world-class ski resorts offer senior discounts and programs specifically for retirees
• National Parks: Utah's "Big Five" national parks (Zion, Bryce Canyon, Arches, Capitol Reef, Canyonlands) provide endless exploration opportunities
• Grandchildren Activities: Many Utah retirees become deeply involved in grandchildren's sports, school events, and family gatherings
• RV and Travel: Utah's central location makes it ideal for RV adventures throughout the American West

Financial Characteristics of Go-Go Years:

• Higher spending on travel, recreation, and lifestyle upgrades
• Major purchases like RVs, boats, or vacation equipment
• Home modifications for comfort and aging-in-place preparation
• Social spending on dining out, entertainment, and group activities

Planning Considerations: As Mike emphasizes on the show, retirement spending is not linear. The old-fashioned retirement calculators that assume you'll spend the same amount every year for 30 years are fundamentally flawed. During your go-go years, you should plan to spend more than your baseline retirement budget – this is when you make memories and enjoy the fruits of your labor.

Example: Salt Lake City Couple Tom and Sarah from Salt Lake City retired at 65 with $1.2 million in retirement savings. During their go-go years (ages 65-74), they spent an average of $85,000 annually – significantly more than their baseline $65,000 budget. They purchased an RV ($75,000), took annual trips to Europe ($15,000 per year), and upgraded their kitchen to accommodate family gatherings ($25,000).

This front-loaded spending strategy worked because their retirement money map showed they could afford higher initial spending while still ensuring money lasted through all three stages of retirement.

Stage 2: The Slow-Go Years (Typically Ages 75-85)

The slow-go years represent a transition period where the desire for adventure remains, but energy levels and physical capabilities begin to change. This isn't necessarily a negative phase – it can be deeply fulfilling, but the nature of activities and spending shifts significantly.

Characteristics of Slow-Go Years:

• Selective about travel and activities
• Preference for familiar, comfortable environments
• More focused on family and local community
• Beginning to consider future care needs
• Shift from "doing" activities to "being" activities
• More intentional spending on meaningful experiences

Utah-Specific Slow-Go Considerations:

• Local Recreation: Focus shifts to local Utah activities – Red Rock country drives rather than strenuous hikes
• Community Involvement: Many Utah retirees become active in local religious and community organizations
• Grandparent Roles: Deeper involvement in grandchildren's lives, often providing childcare support
• Healthcare Access: Ensuring proximity to Utah's excellent healthcare systems

Financial Characteristics of Slow-Go Years:

• Reduced travel spending as activities become more local
• Maintained social spending but in different ways
• Increased healthcare expenses as medical needs grow
• Home modification costs for safety and accessibility
• Beginning long-term care considerations

Healthcare Planning During Slow-Go Years: The transition from go-go to slow-go years often coincides with the first significant healthcare expenses. According to Fidelity's research, which Mike cites on the show, the average 65-year-old couple can expect to spend over $315,000 on healthcare during retirement – and this figure is after taxes and doesn't include long-term care needs.

Smart Strategies for Slow-Go Healthcare Costs:

Living Benefits Insurance: As Mike explains, properly structured life insurance policies or index annuities with long-term care riders can provide tax-free access to benefits if you can't perform two of the six activities of daily living (feeding yourself, dressing, bathing, transferring, toileting, continence) or if you develop severe cognitive impairment.

Health Savings Account (HSA) Maximization: If you're still working or have access to an HSA, maximize contributions. After age 65, HSA funds can be withdrawn penalty-free for any purpose (though non-medical withdrawals are taxable).

Geographic Healthcare Considerations: Utah's healthcare system consistently ranks among the nation's best for quality and value, making aging in place more attractive than in many other states.

Stage 3: The No-Go Years (Typically Ages 85+)

The no-go years represent the final stage of retirement, where mobility becomes limited and the focus shifts to comfort, safety, and dignity. As Mike humorously notes on the show, this is when "the big trip is going to Walgreens to pick up prescriptions – and you don't even want to do that."

Characteristics of No-Go Years:

• Limited mobility and independence
• High healthcare and assistance needs
• Focus on comfort and familiar surroundings
• Increased reliance on family or professional caregivers
• Simplified lifestyle and reduced discretionary spending
• Legacy and end-of-life planning becomes urgent

Utah-Specific No-Go Considerations:

• Aging in Place Support: Utah communities often have strong informal support networks through religious and community organizations
• Family Proximity: Utah's family-oriented culture means many seniors have adult children nearby
• Climate Challenges: Utah winters can become more challenging for seniors with limited mobility
• Healthcare Access: Ensuring continued access to specialized medical care as needs intensify

Financial Characteristics of No-Go Years:

• Reduced discretionary spending on travel and entertainment
• Dramatically increased healthcare expenses
• Possible long-term care costs ($50,000-$100,000+ annually)
• Home modification or relocation costs
• Simplified financial management needs

Long-Term Care Reality in Utah:

As Louis shares on the show, her mother-in-law's experience illustrates the harsh reality of unprepared no-go years. Starting with just $20,000 in assets, she initially moved to assisted living ($4,000-$6,000 monthly), but when that became insufficient after nine months, she required full-time care and had to qualify for Medicaid.

Fortunately, a bed became available at a facility near her sister, creating a silver lining in a difficult situation. However, most families don't have this option – Medicaid typically dictates placement based on availability, not family preference.

Preventing the Medicaid Spend-Down:

Strategic Long-Term Care Planning: Rather than purchasing traditional long-term care insurance (which has become expensive and restrictive), consider hybrid solutions like life insurance with long-term care riders or annuities with care benefits.

Asset Protection Strategies: Proper advance planning can help protect assets while still qualifying for Medicaid benefits when necessary, though this requires professional legal and financial guidance.

Family Communication: As Mike emphasizes, having honest conversations with adult children about expectations and preferences before they're needed prevents family conflict and ensures everyone understands the plan.

---

The Fatal Flaw in Traditional Retirement Planning

Why the 4% Rule Fails in Real Life

Most retirement planning still relies on the outdated 4% rule, which suggests that withdrawing 4% of your portfolio annually will make your money last 30 years. This rule was developed in a different economic environment and fails to account for today's realities.

Modern Challenges the 4% Rule Ignores:

Variable Spending Patterns: Real retirees don't spend the same amount every year. Go-go years require higher spending, slow-go years moderate spending, and no-go years shift spending to healthcare.

Inflation Complexity: Different categories of retirement spending inflate at different rates. Healthcare costs rise faster than general inflation, while some expenses (like mortgages) are fixed.

Tax Rate Changes: With our national debt approaching $37 trillion, tax rates will likely increase significantly, making tax-deferred account withdrawals more expensive.

Longevity Risk: People are living longer, potentially needing money for 40+ years in retirement rather than the traditional 20-30 years.

Sequence of Returns Risk: Market crashes early in retirement can devastate portfolios when combined with withdrawal needs, even if markets recover later.

The Capital Wealth Retirement Money Map Difference

Our proprietary Retirement Money Map addresses these real-world complications:

Stage-Specific Planning: We model different spending levels for each stage of retirement, allowing for front-loaded spending during active years.

Category-Specific Inflation: Instead of using a single inflation rate, we apply different inflation rates to different spending categories:

• Mortgages: 0% (fixed payments)
• Property taxes: Utah's historical average
• Healthcare: Above-average inflation rates
• Food and utilities: Regional Utah inflation patterns
• Recreation: Lifestyle-specific inflation rates

Tax Strategy Integration: We plan withdrawal sequences to minimize lifetime tax burden, often combining traditional 401(k) withdrawals, Roth conversions, and taxable account distributions.

Stress Testing: We model extreme scenarios including:

• Market crashes during early retirement
• Tax rates increasing 50%+
• Healthcare costs exceeding projections
• One spouse requiring extended care

Flexibility Planning: We build in adjustment mechanisms for changing health, family situations, and economic conditions.

---

Real Questions from Our Utah Listeners

"I'm confused about how much of my retirement income will be taxed. Can you help me understand?"

Mike's Answer: Lydia, this is one of the most important – and misunderstood – aspects of retirement planning. The answer is more complex than most people realize, and getting it wrong can cost you tens of thousands of dollars.

The Social Security Tax Torpedo: Many Utah retirees don't realize that withdrawing money from tax-deferred accounts (401k, IRA, TSP) can actually cause their Social Security benefits to become taxable. This is called the "tax torpedo" effect.

Here's how it works: If your combined income (adjusted gross income + tax-free interest + half of Social Security benefits) exceeds certain thresholds, up to 85% of your Social Security becomes taxable. For married couples filing jointly, this threshold is relatively low – just $44,000 in combined income.

Example: Ogden Couple Robert and Janet from Ogden receive $36,000 annually in Social Security benefits. They also withdraw $40,000 from their 401(k). Their combined income is $58,000 ($40,000 + $18,000), which means 85% of their Social Security ($30,600) becomes taxable.

Without proper planning, they're paying taxes on $70,600 of income instead of just their $40,000 401(k) withdrawal. This could push them into a much higher tax bracket than expected.

Utah Tax Advantages: The good news for Utah retirees is that Utah doesn't tax Social Security benefits, regardless of income level. This gives Utah retirees a significant advantage over residents of states that do tax Social Security.

Strategic Solutions:

• Roth Conversions: Converting traditional IRA money to Roth during lower-income years (often between retirement and Social Security claiming)
• Tax-Efficient Withdrawal Sequencing: Taking money from different account types in optimal orders
• Geographic Arbitrage: Utah's tax-friendly status for retirees makes staying in state attractive

"My husband and I aren't on the same page about retirement planning. Should we resolve our differences before meeting with an advisor?"

Mike's Answer: Audra, don't worry – you're completely normal! I joke that I'm both a financial advisor and a marriage counselor, and it's not far from the truth. Very few couples are perfectly aligned on financial matters when they first come to see us.

Common Areas of Disagreement:

Risk Tolerance: Women typically prefer more conservative investments with lower fees and less volatility. Men often want to "go crazy" and put everything in Bitcoin or aggressive stock portfolios. The truth is, you need each other – she keeps you from taking excessive risk, and he keeps you from being too conservative.

Spending Priorities: Often one spouse wants to spend more on travel and experiences during the go-go years, while the other worries about having enough money for healthcare in the no-go years.

Legacy Goals: Sometimes one spouse wants to leave a specific inheritance to children or grandchildren, while the other wants to "spend it all" and enjoy retirement.

How We Help: As a neutral third party, we can provide perspective that helps couples find common ground. We focus on education rather than sales, helping both spouses understand the implications of different strategies.

Our Approach:

1. Respectful Communication: We never take sides or dismiss anyone's concerns
2. Education-Focused: We explain the pros and cons of different approaches
3. Collaborative Planning: We help you find strategies that address both spouse's priorities
4. Regular Reviews: We meet twice yearly to ensure you remain aligned as circumstances change

Personal Story: Mike shares a recent experience where he and his wife had a miscommunication about a financial decision. After spending three hours cleaning his garage while frustrated, he realized they were actually saying the same thing but in different ways. These communication challenges happen to everyone – having a professional facilitator can help prevent misunderstandings from derailing your retirement planning.

"I'm starting to look for a financial advisor and I'm not sure how to find the best fit. What is your typical client like?"

Mike's Answer: Ruben, great question. Let me share our ideal client profile and also give you some tips for evaluating any advisor you're considering.

Our Typical Client:

• Age: People nearing retirement (typically 55+) or already retired
• Assets: $250,000+ in investable assets (our firm minimum)
• Focus: More interested in retirement income planning than accumulation strategies
• Values: Education-focused, want to understand their options rather than just being sold products

What to Look for in ANY Advisor:

Fiduciary Standard: This is crucial. The word gets thrown around casually, but you need to verify that your advisor is legally required to act in your best interest. Many insurance-licensed salespeople call themselves "financial advisors" but aren't held to fiduciary standards.

Comprehensive Licensing: Make sure they hold more than just an insurance license. You want someone who can offer stocks, bonds, insurance, and other investment options.

Specialization Match: If you're planning for retirement, work with someone who specializes in retirement income planning, not someone who primarily works with young professionals on accumulation.

Chemistry and Communication: This is huge. If you leave a meeting feeling talked down to, or if they only address one spouse, find someone else. Your spouse's intuition is particularly valuable here – if your wife doesn't like them, don't work with them.

Fee Transparency: Understand exactly how your advisor is compensated and what you're paying in fees. Hidden fees can erode returns significantly over time.

Red Flags to Avoid:

• High-pressure sales tactics
• Promises of guaranteed high returns
• One-size-fits-all recommendations
• Unwillingness to explain strategies in simple terms
• Focus on products rather than planning

"I'm worried about being diagnosed with Alzheimer's. I've watched family members suffer from it. How do I get financial decisions handled while I still can?"

Mike's Answer: Dana, I'm sorry you've watched family members go through this difficult disease. You're absolutely right to address these concerns while you're able to make clear decisions.

Immediate Action Items:

Legal Documents: Get these in place immediately:

• Durable Power of Attorney for Financial Matters: Names someone to handle financial decisions if you become incapacitated
• Healthcare Power of Attorney: Names someone to make medical decisions
• HIPAA Authorization: Allows your designated person to access medical information
• Will or Trust: Ensures assets transfer according to your wishes

Financial Organization: Create a comprehensive financial inventory:

• List all accounts, passwords, and contact information
• Document your investment philosophy and goals
• Identify all insurance policies and beneficiaries
• Create a "financial emergency binder" with all important documents

Family Communication: Have honest conversations with adult children or other family members about your wishes and concerns. This prevents confusion and conflict later.

Professional Team Assembly:

• Attorney: Specializing in elder law and estate planning
• Financial Advisor: Familiar with incapacity planning strategies
• CPA: Understanding tax implications of various scenarios
• Insurance Agent: Reviewing life and long-term care coverage

Utah-Specific Considerations: Utah has strong legal protections for incapacitated individuals, but proper advance planning is still crucial. Utah's family-oriented culture often provides strong informal support networks, but formal legal and financial planning ensures your wishes are followed regardless of family circumstances.

Long-Term Care Funding Strategies:

• Hybrid Life Insurance: Policies with long-term care riders provide flexibility
• Asset Protection Strategies: Legal methods to protect assets while maintaining Medicaid eligibility
• Family Care Agreements: Formal arrangements for family members who provide care

The Urgency Factor: As Mike mentions, his father passed away unexpectedly at 49. While we hope for the best, planning for various scenarios ensures your family isn't left confused and financially stressed during already difficult times.

---

Estate Planning and Legacy Considerations

The Family Discussion That Changes Everything

Mike's personal story about his hunting and archery equipment illustrates an important principle: have specific conversations about specific items while you're alive and mentally competent. Too many families are torn apart by fights over "who gets what" when these discussions never happened.

The Weekly Family Meeting Strategy:

Monthly Review: Discuss any changes in health, finances, or family circumstances

Annual Planning: Review and update estate planning documents, beneficiary designations, and family wishes

Legacy Conversations: Talk specifically about meaningful items – who would appreciate dad's hunting equipment, mom's jewelry, the family piano

Financial Education: Gradually educate adult children about family financial planning so they can help when needed

Tax-Efficient Legacy Planning

The Tax Question Nobody Asks: When Mike asks clients whether they want to leave money to family members tax-free or taxable, most people are surprised – they hadn't considered the tax implications of their legacy.

Traditional vs. Roth Inheritance:

Traditional 401(k)/IRA Inheritance: Recipients must pay income tax on all withdrawals at their current tax rates. With tax rates likely increasing, this could be a significant burden.

Roth IRA Inheritance: Recipients can withdraw money completely tax-free for up to 10 years (for most non-spouse beneficiaries).

Example: Provo Family Legacy David from Provo has $500,000 in traditional 401(k) funds that he plans to leave to his two adult children. If tax rates increase to 35% by the time he passes away, his children will pay $175,000 in taxes on their inheritance, receiving only $325,000.

If David completes strategic Roth conversions over several years while tax rates are relatively low, his children could inherit the full $500,000 tax-free.

The Utah Estate Tax Advantage: Utah doesn't impose state estate taxes, which simplifies legacy planning compared to many other states. However, federal estate taxes still apply to estates over $13.61 million (in 2025), and this exemption is scheduled to decrease significantly in 2026.

Home and Property Legacy Planning

With 75% of Utah homeowners planning to leave their homes to family members, specific planning is crucial:

Ownership Structure Options:

• Joint Tenancy: Automatically transfers to surviving spouse
• Life Estate: Allows parents to live in home for life, with ownership transferring to children at death
• Revocable Trust: Provides flexibility and avoids probate

Tax Considerations:

• Step-Up in Basis: Inherited real estate gets a "stepped-up basis," potentially eliminating capital gains taxes for heirs
• Principal Residence Exclusion: If parents sell the home before death, they may exclude up to $500,000 in capital gains

---

The Expense Planning Revolution

Beyond the Magic Number Myth

Those Super Bowl commercials claiming "if you've saved a million dollars, you can retire" are not just wrong – they're dangerous. Americans now believe they need $1.46 million to retire comfortably, but the truth is that there's no universal magic number.

Why Magic Numbers Fail:

Individual Lifestyle Differences: A couple with a paid-off home in Cedar City has vastly different needs than a couple with a large mortgage in Park City.

Debt Variations: Some retirees enter retirement debt-free, while others carry mortgages, credit card debt, or other obligations.

Health Differences: Healthcare needs vary dramatically between individuals and couples.

Geographic Variations: Cost of living varies significantly even within Utah – from expensive resort communities to affordable rural areas.

The Capital Wealth Expense Planning System

Our proprietary expense planning system, built into our Retirement Money Map, addresses these real-world variations:

Dynamic Expense Projections: We model how expenses change throughout retirement:

• Go-Go Years: Higher travel, recreation, and discretionary spending
• Slow-Go Years: Moderate spending with increased healthcare costs
• No-Go Years: Reduced discretionary spending but dramatically higher care costs

Mortgage Fall-Off Planning: When your mortgage ends, that payment doesn't disappear – it becomes available for other retirement expenses or can be redirected to savings.

Example: West Jordan Couple Mark and Susan from West Jordan have 15 years left on their $2,500 monthly mortgage. Rather than assuming they'll need that $2,500 throughout retirement, our expense plan shows that after year 15, they'll have an additional $2,500 monthly for other purposes – potentially $450,000 over the remainder of retirement.

Category-Specific Inflation Modeling:

• Fixed Expenses: Mortgage payments don't inflate
• Property Taxes: Historical Utah averages
• Healthcare: Above-average inflation rates
• Utilities: Regional utility cost trends
• Recreation: Lifestyle-specific inflation patterns

---

Healthcare Cost Planning Through the Stages

The $315,000 Reality

Fidelity's research shows that the average 65-year-old couple can expect to spend over $315,000 on healthcare during retirement – and this figure is after taxes and doesn't include long-term care expenses.

Stage-Specific Healthcare Patterns:

Go-Go Years Healthcare:

• Preventive care and routine maintenance
• Dental and vision expenses often increase
• Health-related travel (medical tourism, specialized care)
• Activity-related injuries (skiing, hiking accidents)

Slow-Go Years Healthcare:

• Chronic condition management
• Increased prescription medication costs
• More frequent specialist visits
• Beginning mobility and safety modifications

No-Go Years Healthcare:

• Intensive medical management
• Long-term care expenses
• End-of-life care costs
• Family caregiver support expenses

Utah Healthcare Advantages

Cost-Effective Quality Care: Utah consistently ranks among the best states for healthcare value – high quality at reasonable costs compared to coastal states.

Integrated Health Systems: Organizations like Intermountain Healthcare provide coordinated care that can be more efficient and cost-effective.

Medical Tourism Hub: Utah's central location and quality healthcare systems make it attractive for medical tourism, potentially reducing costs for specialized procedures.

Strong Community Support: Utah's community-oriented culture often provides informal support networks that can delay or reduce the need for formal long-term care services.

Innovative Healthcare Funding Strategies

Living Benefits Life Insurance: As Mike explains, his personal life insurance policy includes riders that allow tax-free, penalty-free access to the death benefit if he can't perform two of the six activities of daily living or develops severe cognitive impairment. This provides long-term care coverage without the restrictions of traditional long-term care insurance.

Index Annuities with Care Riders: Some index annuities offer care riders that provide enhanced benefits for long-term care needs while still providing principal protection and growth potential.

Health Savings Account Strategies: For those still working or with access to HSAs, maximizing contributions provides triple tax benefits – deductible contributions, tax-free growth, and tax-free withdrawals for medical expenses.

---

Aging in Place vs. Relocation Strategies

The 70% Who Stay Put

Freddie Mac's study showing that 70% of baby boomers plan to age in place reflects both emotional preferences and financial realities. Many Utah homes have appreciated significantly, making downsizing potentially cost-neutral or even more expensive.

Aging in Place Advantages:

• Familiarity and Comfort: Staying in a known environment and community
• Social Networks: Maintaining established friendships and community connections
• Healthcare Continuity: Keeping established relationships with healthcare providers
• Family Proximity: Staying near adult children and grandchildren

Aging in Place Challenges:

• Home Modification Costs: Making homes safe and accessible can be expensive
• Maintenance Burden: Yard work, snow removal, and home maintenance become more difficult
• Healthcare Access: Ensuring transportation to medical appointments
• Social Isolation: Risk of becoming isolated as mobility decreases

Strategic Home Modification Planning

Proactive Go-Go Year Modifications:

• Universal Design: Wider doorways, lever-style handles, curbless showers
• Safety Features: Grab bars, improved lighting, non-slip surfaces
• Technology Integration: Medical alert systems, smart home features for monitoring

Slow-Go Year Adaptations:

• Accessibility Improvements: Ramps, stair lifts, accessible bathrooms
• Mobility Support: Handrails, raised toilet seats, shower seats
• Navigation Aids: Improved lighting, contrasting colors for visibility

No-Go Year Considerations:

• Care-Ready Spaces: Rooms that can accommodate hospital beds and medical equipment
• Caregiver Accommodations: Space and facilities for live-in or frequent caregivers
• Emergency Access: Ensuring emergency personnel can easily access the home

The Relocation Alternative

For some Utah retirees, relocation makes financial and practical sense:

Downsizing Within Utah:

• Mountain to Valley: Moving from expensive mountain communities to more affordable valley locations
• Urban to Rural: Trading higher property taxes and HOA fees for more affordable rural living
• Size Reduction: Moving from large family homes to senior-friendly condominiums or townhomes

Climate Migration: Some Utah retirees become "snowbirds," maintaining Utah residency for tax purposes while spending winters in warmer climates. This requires careful planning to maintain Utah resident status for tax purposes.

Cost Analysis Framework:

• Home Sale Proceeds: Current market value minus selling costs
• New Home Costs: Purchase price plus moving and modification expenses
• Ongoing Expense Changes: Property taxes, insurance, utilities, maintenance
• Healthcare Access: Ensuring continued access to quality medical care

---

Frequently Asked Questions

Q: How do I know if I should plan for 20 years or 40 years in retirement?

A: We plan for longevity at Capital Wealth – our Retirement Money Maps extend to age 100 for both spouses. While you might not need money for 40 years, it's better to have too much than too little. Family history, current health, and lifestyle factors can provide some guidance, but erring on the side of longevity is generally wise.

Q: Should I pay off my mortgage before retiring?

A: This depends on several factors including your mortgage interest rate, tax situation, and overall liquidity needs. In Utah's relatively low property tax environment, and with mortgage interest potentially being tax-deductible, keeping a low-rate mortgage while investing the difference might make sense. However, the peace of mind from having no mortgage payment can't be quantified. We analyze both scenarios in our retirement planning process.

Q: How much should I expect to spend during my go-go years versus my no-go years?

A: This varies significantly by individual, but typically go-go years involve 15-30% higher spending than your baseline retirement budget, while no-go years might involve 20-40% higher spending due to healthcare and care costs, even though discretionary spending decreases. The key is planning for these variations rather than assuming flat spending throughout retirement.

Q: What happens if I need long-term care but want to stay in my home?

A: Home-based care is often possible but requires advance planning. In-home care can cost $25-35 per hour in Utah, making 24-hour care potentially more expensive than facility care. However, family caregivers, part-time professional care, and adult day programs can make aging in place more affordable. The key is planning for various scenarios and having flexible funding sources.

Q: How do I decide between traditional long-term care insurance and newer hybrid products?

A: Traditional long-term care insurance has become expensive and restrictive, with many insurers exiting the market. Hybrid products like life insurance with long-term care riders or annuities with care benefits provide more flexibility – if you don't use the long-term care benefits, your beneficiaries still receive the life insurance or annuity benefits. These products typically cost more upfront but provide more certainty.

Q: Should my adult children be involved in my retirement planning?

A: Absolutely, especially as you transition from slow-go to no-go years. Your children may need to help with financial decisions, and they should understand your wishes and resources. However, this doesn't mean they should control your decisions – rather, they should be educated about your plans so they can help execute them when needed.

Q: How do I plan for inflation when different expenses inflate at different rates?

A: This is exactly why we use category-specific inflation planning in our Retirement Money Maps. Healthcare typically inflates faster than general inflation, while fixed expenses like mortgages don't inflate at all. We model each major expense category separately, then blend them based on your specific situation to create realistic spending projections.

Q: What if my health deteriorates faster than expected and I skip the slow-go years?

A: This is why we stress-test our plans for various scenarios. If health issues accelerate your transition to no-go years, having flexible funding sources and advance planning becomes even more critical. This is also why we recommend against putting all retirement funds in illiquid products – maintaining some flexibility is crucial for adapting to changing circumstances.

---

Your Next Step: Don't Let Retirement Happen to You

Don't let retirement catch you unprepared for its three distinct stages. While 70% of baby boomers plan to age in place and 75% plan to leave their homes to family, most haven't created comprehensive plans that address the reality of how their needs, spending, and priorities will evolve over potentially 30+ years of retirement.

The difference between retirees who thrive throughout all three stages and those who struggle isn't usually the amount they've saved – it's whether they've created adaptive plans that account for the go-go, slow-go, and no-go realities of retirement.

Whether you're concerned about front-loading your go-go years without running out of money, worried about healthcare costs during your slow-go years, or want to ensure dignity and quality care during your no-go years, Capital Wealth Advisors has helped thousands of Utah families create comprehensive three-stage retirement strategies.

Ready to create your three-stage retirement plan?

📞 Call: 801-210-5500 📱 Text "VISIT" to 801-210-5500
🌐 Visit: capitalwealth.com

Capital Wealth Advisors — helping Utah families retire right since 2010.

Special Offer: The next five callers who mention this article will receive a complimentary Retirement Money Map – our comprehensive three-stage analysis that shows exactly how to plan for go-go, slow-go, and no-go years based on your specific situation, goals, and Utah advantages.

Don't let retirement happen to you – take control of all three stages and ensure the retirement of your dreams.

---

Tags: #RetireRightRadio #UtahRetirement #ThreeStagesRetirement #GoGoYears #SlowGoYears #NoGoYears #RetirementPlanning #AgingInPlace #LegacyPlanning #HealthcarePlanning #RetirementMoneyMap #CapitalWealthAdvisors #MikeStevens #ExpensePlanning #UtahRetirees #RetirementStages