By Clint Haynes, CFP
The Kansas City Star
(TNS)
As the Kansas City Chiefs get ready for their first preseason game, it’s a great time to think about your own retirement “preseason” strategy. There are many lessons we can apply to retirement from the way the Chiefs approach preseason.
Having a clear process for success is no accident. Coach Andy Reid gets a clear picture of how each team member will react to real game-time scenarios in preseason outings.
You can do the same for your upcoming retirement.
Play your starters in preseason
The Chiefs are somewhat unique because they often play everyone in preseason, including starting players like Patrick Mahomes. Reid has stated he plays the whole team because he wants to see how his entire roster performs.
Similarly, we can “play our starters” in retirement by starting to really dial in what retirement is going to look and feel like. For instance, it might be a good idea to start trying out some “staycations” to test your ideal retirement schedule.
It’s also OK to start doing some key “drills” by adjusting spending to match your anticipated retirement income. Now is the time to identify potential financial fumbles while you can still make adjustments.
Evaluate your current ‘roster’
Reviewing your retirement income sources and overall income plan is important. However, it’s vital to make sure your entire retirement team is ready as well. You’ll want to make sure everyone in your family is on board with the plan and start engaging with other professionals as needed.
You’ll want to consider financial planners, accountants, estate attorneys and other professionals to ensure a smooth transition into retirement. Game time is not when you want to find out you’re missing key players.
Make strategic adjustments
Just like the Chiefs evaluate players and adjust rosters, you’ll need to shift things as needed. Making adjustments shouldn’t be a surprise. You should expect to continually adjust as your life progresses, tax laws change and your interests shift over time.
You’ll also need to start shifting from saving and accumulating assets to “snapping” into the decumulation phase of retirement. In other words, you’ll start the shift from offense to defense.
Test your game plan
The Chiefs test their whole roster against other teams in the preseason. Similarly, you can start stress-testing your retirement strategy. You can use software to do this, hire a financial planner or simply think through all the likely “what-ifs” you may encounter.
You’ll want to make sure you’re covered in the event of recessions, runaway inflation, rising health care costs or cuts to key benefits like Medicare and Social Security. Although it’s the least fun topic, you’ll also need to make sure your long-term care and estate planning needs are ready for a variety of scenarios.
Strengthen your defense
Finally, once you’ve identified all the potential problems in retirement, you can make final adjustments before heading into the “regular season game” we call retirement. Some of this will be based on the numbers, but you also need to have a good feeling about starting retirement.
Beefing up your emergency funds, topping off retirement accounts with catch-up contributions or reviewing your insurance can all have a significant impact. In many cases, you may simply need to consolidate your investments or get organized.
Are you prepared for retirement?
The main goal of your retirement “preseason” is to be ready when it counts. There will always be bumps in the road and adjustments to be made. However, it’s best to work out as many kinks as you can before you start retirement.
We’ve seen the difference between retirees with a plan and those who take a “we’ll figure it out” approach. There’s a significant difference in stress levels. Make sure you’re prepared with a solid financial plan to avoid stress and focus on enjoying your golden years.
ABOUT THE AUTHOR:
Clint Haynes is a Certified Financial Planner professional and a member of the Financial Planning Association of Greater Kansas City. He is an adviser with NextGen Wealth in Lee’s Summit, MO.
Photo credit: Kansas City Chiefs/X
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©2025 The Kansas City Star. Visit kansascity.com. Distributed by Tribune Content Agency LLC.
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