In a very broad view, long-term security is a two-step process: Clients build assets during their working years and then spend them in retirement. But there’s a third step that often goes overlooked. The transition step occurs five to 10 years before the client leaves the work force. Any planning through a client’s 30s and 40s is pretty much a guessing game, but reality has usually set in by the time a client turns 50, says Katie Libbe, vice president of Consumer Insights at Allianz Life of North America. At this age, there is still time for a client to make adjustments—save more, spend less, postpone the retirement date or reset their expectations. Libbe advises clients answer five questions at this step: Is my plan realistic? Are my assets where they need to be? What are the tax implications? Should I delay taking Social Security? How does guaranteed income fit into the equation?