u/TempeGrumble

60M, widowed, going part-time in late summer. Retirement-wise, I have two goals for the next year: (a) make sure my projected budget really is my spending; and (b) take advantage of catch-up on the Roth side of my employer's 403b/457b voluntary options.

My question for the subreddit is about (b): my plan is to use cash to provide part of my living expenses while my net paycheck drops dramatically, both from lower salary and the catch-up post-tax deductions. (14% goes to a 401k, half my employer's contributions. 403b/457b is extra, all mine.) I *think* that what I'm doing is effectively converting what could be brokerage investments into Roth assets so I get the tax advantage gratis, just substituting existing cash for what would have been more paycheck deposits.

Am I missing anything?

In February 13 u/Rob_Berger's Five Question Friday (FQF) had links to his one-page financial overview and his financial love letter template, and I've tried to adapt the latter for my situation (60M, widowed 2024), where my two adult children are attorneys-in-fact named in my powers of attorney as well as my executors. My primary goal for this is different from a spousal/partner document, because I'm worried far less about my children's immediate and long-term financial survival than making sure they can be confident they're doing what they need to and can focus on the human side of taking care of my affairs and any grieving.

I split the love letter into Google Doc's "tabs": "To do first," key contacts, where things and information are, money flows, and house maintenance. And the To Do First tab is divided into the cases when I'm in ICU (or otherwise powers of attorney are triggered) and when I'm dying/dead. I've added a link to the American Association of Daily Money Managers, in case they want someone to help with keeping paperwork straight without having to make an appointment with my CPA monthly.

Anything else people would suggest?

(FWIW, I've set up everything I can as auto-pay so that they don't have to worry about credit cards etc., and they have associate cards on one of my accounts so if I'm incapacitated they can just spend on my/pet/house needs and things are paid. I've also recently had my will/powers of attorney/beneficiary designations double-checked by an estate attorney.)