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#1 Retirement Question is the Wrong Question
talessi@ariesfoundation.org
WHEN?
The #1 questions that is asked of anyone planning or thinking about retirement is "When do you want to retire"
or it may be re-phrased as "At what age do you want to retire".
While this question is a consideration, it is definitely not the most important question to ask.
That question is HOW? As in "How are you going to retire?". What type of lifestyle? Where are you going to live? And of course, most importantly, How are you going to pay for this? See, you can't plan for when, or even how, until you are sure of all of your numbers. And by "your numbers" we mean your cash flow analysis, so that you have a solid grasp of all of your expenditures. Because until you know what you are spending there is no way to safely estimate how to make the money last in retirement.
The Reality Check With Your Numbers
So you have to spend some time getting a handle on exactly what those figures are, and by exactly, we don't mean a "good guess", or maybes or a future hypothetical. No! These have to be solid, so don't just gloss-over this part. Take some time and really dive into your expenses and get a very good grasp on the reality of your numbers.
Failing to Plan is Planning to Fail
Otherwise what you are dealing with is HOPE.
Now there's nothing wrong with Hope, except when it comes to air travel and financial planning, as in "I hope we're gonna make it".
Taking the time to get this step right will help make all the difference in any plan that you are trying to achieve.
Want to learn more? Join us on Thursday, 1/21 at 6:30 PM
for the next THIRSTY for knowledge THURSDAY
as we discuss this and other steps you can take to make sure that you are completely ready to take the journey on what will be the longest vacation fo your life.
Visit www.ariesfoundation.org/events to register and learn more
Tomorrow's Blog Post: Other Factors to Consider - Social Security Claiming, Health & Assisted Care Needs, Taxes, and how all of these can derail or waylay even the best laid plans for your Road Trip.
Got Questions? Ask Us. We Can Help With That!
Our mission is to help everyone have a better relationship with their money. If you and your money aren't on the same page yet, or need a little friendly intervention to help you get back together, then reach out to us and see how we can be of some assistance:
crichardson@ariesfoundation.org
Completing these financial tasks before year-end can help set you up for financial success in the New Year.
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