What are some very important things to monitor concerning your retirement plan, both before and after retirement?

What will be an ideal response?

Answer: Inflation and tax policy will have an enormous impact on whether or not you will reach your retirement goals and be able to enjoy the standard of living you planned for during retirement. Inflation changes which effects the real return on your savings. Tax policy changes which also impacts your after-tax return. Social Security reform and Medicare reform could have a dramatic impact on retirement goals. Economic conditions such as interest rates and recession can impact your investments but also the company you worked for who may be paying out your benefits or is a major holding in your ESOP plan. Maintaining a budget and not withdrawing too much money too soon could hurt your chances of not outliving your savings. Possibly delaying retirement, delaying Social Security benefits, or working part time during retirement may be necessary and identified through good planning and monitoring.