WHAT IS RETIREMENT (Part 2)

In my last post about retirement I talked about some of the things we might do once we reached a certain age. Retirement can be different and better than at any time in the past, for prior generations. For that to happen, we must know what is possible for us, what is probable, and then build a plan that we and our family will feel good about. When I last wrote about retirement, I talked about the blue collar workers from my old neighborhood. Then life expectency was about 64. For those men that worked with their hands for decades, it may have been less. Today, we can expect to live past 80. While that can be great news, we will need a plan and the resources to thrive in these extra years.

As you think about retirement I urge you to prioritize the following areas: medicare and your health plan, social security benefits, what you have earned and when you may want to begin collecting, understanding the rest of your assets and where they can take you, and finally, you will want to think about earning money in your later years. Know that when I was 45, I had planned to work forever. Today I am past 65 and am working less than full time with no interest in a new full time position, no matter the role or the benefits. Life is short, and people at 65 and beyond have earned to right to take time, to relax, and enjoy life all around them.

As long as you and your spouse are in good health, have a fair to large amount of assets, the retirement planning decisions should not be all that hard. The important part is that these are your decisions, not those of financial planners, outside family members, or employers. Once you both have considered the facts, gotten all of the answers you need to your questions, you both can move ahead, working on a strategy that brings you joy, that brings you peace. Life is short, and as we reach the years past Medicare, we will want to do things the right way.....our way.