Have you been reading those articles with titles like “Ten Best Places to Retire” or “The Best Investments for Retirement” or “Six Best States for Retirement Taxes”?
Being in the business of retirement, and voracious readers besides, we read all that stuff. And we talk to scores of people about their retirement plans, and scores of retirees as well.
There is one sure thing about retirement: no one but you knows your best way to live in retirement. The articles are useful only to prompt your own thinking about your own situation. Most retirements are successful, in the sense that people are happier with greater freedom to pursue their interests and control over their schedules. These people often say, “I don’t know how I had time to work” because they are so busy. One client told us that “work is way over-rated.”
Other retirements do not work out as well. We believe there are a few aspects of retirement that successful retirees thought out in advance.
Where to live? A minority of people move to retirement destination locations. Most stay close to friends and family. Others split the difference and travel in winter or adopt a snowbird routine. With planning, you can do what you want to do.
What type of housing? Residential living encompasses more choices than ever before. Some people enjoy yardwork or gardening, or like to putter in the garage or shop. Others can’t wait to give away the rake and mower. The amenities of a condo or apartment community like a pool or exercise facilities are attractive to some. A townhouse setup with exterior maintenance and lawn care is the right choice for others. Staying in the family home is perhaps the most common option. Where do you want to wake up every day?
What to do? There are as many retirement lifestyles as there are people. Some spend much time with family, attending ballgames and school events of grandchildren, helping with child care or errands. Others are busy with some combination of fishing, hunting, golf, tennis, hiking, traveling, exercising, boating or travel. Social clubs, meals with friends, bowling leagues, or card parties dot some retiree calendars. Part-time jobs are desirable for an increasing number of retirees, both for a little extra income and for the enjoyment. How do you want to spend your time?
A wise person once said, “Time is what life is made out of. Be careful how you spend it.” Your time, your life. Think about it. We are here to do the math; call us if you would like an office appointment or telephone conference.