We can’t control how our health evolves over time, but we can at least control our finances. Money is the last thing we want to be concerned about if things take a turn for the worse later down the line, so it is vital that we prepare ahead of time.

Consider potential alternative living arrangements that might be required to meet your changing mobility and physical needs as you age and with a changing health outlook. Make sure you take into account the financial cost of this, and it might be time to square away the will as it is one less thing to think about. Consolidating your investment portfolio into lower risk, less active, more passive assets may be something to think about as your focus in the future will be managing your health and maintaining a good quality of life in the latter years of retirement.