Planning-for-retirement is a very necessary exercise because you will spend the rest of your life there. Without a thoughtful plan you will have no idea how much it will cost to get there and live there. There is really no good reason to not invest the necessary time and resources to affirm that you have the best retirement plan possible.
Retirement planning will be different for you than it is for me. My plan included growing my own business and working well past my 65th birthday but not necessarily in my career profession. And as I can attest it needs to be flexible and reflect thoughtful consideration of all options because change in our lives is one of the few things that is constant.
At a minimum the plan must include a retirement budget of anticipated income and projected expenses. It should reflect your current situation and anticipated needs and wants. Do you want or need to permanently leave the workforce? Or do you want or have to continue working? Your budget must be based on the best information available, the services of both a professional legal consultant and a financial consultant are recommended.
My retirement planning includes continuing to work on a part time basis to supplement income but just enough to not interfere with quality of life. Having a happy life beyond our career depends on having quality time for family and friends but it also means, at least to me, having a fulfilling job and networking opportunities. An environment that would provide safety and security-at-home is also important.
In developing my own plan, I investigated places to live. My preference was a rural or country setting. My wife’s view was that we could live in the country as long as we were within ten miles of the nearest shopping mall and medical facility. She graciously offered that she wouldn’t mind living in a community that had a golf amenity.
For ideas on planning a retirement party follow this link. Your friends may appreciate the help.
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In the end it's not the years in your life that count but the life in your years. Abraham Lincoln
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