Retire Well: Resource for Positive Planning

 

 

Does Retiring Well… mean owning a Condominium on a Caribbean Island?

…..And drinking tropical beverages adorned with tiny pastel umbrellas?

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Everyone wants to retire, one day?  Right?

Have the big retirement party in the office conference room. A few co-workers providing the obligatory tears?

Nope.

Not everyone.

Research shows that people who really love what they are doing – plan to scale back and slow down, but not give up their career totally.  (See my post on 2nd and 3rd Act Careers.)

Baby Boomers are making the financial decision to continue and create streams of income well into their golden years.

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Why did I decide to talk about retirement today?

Over the past year or so, I have been literally sickened by some of the retirement rhetoric being doled out to good folks in their 50’s and 60’s.

Sad-to-say, I’m hearing too many discouraging words from television analysts and radio personalities who describe the ‘perfect’ retirement portfolio. 

All of this unhelpful and non-advice is being ‘shared’ under the guise of ‘getting you and me on the right track.’  Doing us a favor.

Let’s vent for a moment.  Shall we?

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Here are 4 prime examples of the kind of jibber-jabber that can derail and demotivate Your retirement planning efforts. 

(1)  A nationally recognizable, financial commentator warned people that $1.000.000 is probably not enough to retire comfortably.  Being concerned and worried was not unwarranted if you only had a measly million bucks stashed away for your retirement.  (Paraphrased.)

(2)  A radio talk show host who dispenses ‘financial’ advice boasted how he had all of his ducks-in-a-row (My slightly sarcastic paraphrase).  He wanted us to know how he had done everything right for his retirement years… or if he had an unexpected hiccup in his life’s journey he’d be just fine.  But wanted to end the program with a well wish for his ‘plebeian’ and simpleton listeners:  He hoped we all had been as wise in our planning.  (My dripping-with-sarcasm paraphrase.)

(3)  Someone I know extremely well, out of the clear blue sky, enlightened me during a phone call about their retirement funds status.  What the heck?  We weren’t even talking about that.  “We are set for life.”  “We are made in the shade.”  on and on and on  (Not even sure what the last statement means.  No paraphrase needed – actual words sufficiently ad nauseam.)

(4)  And last, but definitely not least in any way:  My favorite verbalized comment from a family friend who felt the urge to update my husband and me on his financial well-being…like we were actually interested in knowing – “I couldn’t spend all of the money in my 401k if I tried to!  But I’m going to have fun trying!”  (Oh my word, did my ears just hear that?)

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Ok. You get my point.

And I truly believe a very high five should go out to smart, fortunate people who…. are ‘set for life’, will never outlive their money, and the last bad financial decision they made was in 1976 when powder blue leisure suits were considered attractive.

As a former stockbroker at Smith Barney, I have worked with and worked for these type of investors.  The bigger their portfolio, the louder the voice.

So why write all of this to you?  Because I know you have heard it, too.  If you turn on the radio.  Watch television.  Go out to dinner with friends.  You are going to hear it.

But you are probably similar to me.  I do not and will not share my personal, financial information with family, friends or animals.  It is just plain tacky and the ultimate in poor taste.

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So, here’s my reason for writing about Retirement today.

I want to share inspiring advice. 

Perhaps, something motivating and encouraging. 

A book – that can alleviate some of the worry associated with all of this Empty Advice being disseminated in our culture. 

This is not a cure all for any financial woes or missteps made in the past. 

Unfortunately, it won’t instantly make you a gazillion dollars overnight, either.

I like the sound strategy and the fundamental thinking of Wes Moss, the author.

YOU CAN RETIRE SOONER THAN YOU THINK. 

The 5 Money Secrets of the Happiest Retirees.

My copy of the book has been annotated in the margins, highlighted paragraphs, pages dog-eared and tabbed.

I’ve recommended this book to several thousand of my closest friends.

If you are interested in purchasing a copy for your financial library, click here.  Amazon is one of the many stores where this book is available.

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It goes without saying, but I’ll say it anyway.

You should never make a financial decision based on a blog post.  Every situation is unique. Consult with your accountant, lawyer, financial advisor, and spouse before taking any action.