Early Retirement Planning...Have Clear Goals
When you are doing early retirement planning, make sure you are not just retiring from work. You should be retiring to do something else...there is a big difference in the two statements.
Never say, when asked what you will do when you retire,..." I am going to do nothing". Without clear-cut retirement goals, you will soon be bored with retirement. Without goals you will become frustrated.
In retirement planning, you need to be clear about two things...what you want to do...what you never want to do again. You and your spouse should make these two lists, then compare lists. You for instance may want to play golf every day, or have the weather to make golf doable every day. Great...but not if your better half wants to be able to ski close to your house. Better find out what the differences are now, and work them out, now rather than later.
Don't retire to watching soap operas. The couch is no place to be retired for a long time. You know it is unhealthy. You want to be able to retire for many years. Staying healthy, should be on everyone's list.
Your lists need to be specific. Be honest with yourself. If you never want to rake leaves again, a big house and yard in the Midwest is not for you. If you want to sail year round San Diego may be better than Omaha.
The more focused and clear your goals are the better. For instance learning to speak French as a goal is too broad. Instead stay I will be able to speak passable French 6 months after I retire. Then it is OK to go buy the language software.
Early retirement planning usually focuses on money. If you focus solely on money you will not enjoy retirement. Your financial planner is a specialist in the money side of retirement, it is up to you to define what you are retiring to.
Do you need some prodding to get your retirement list building started? I have been retired 15 years, my two lists are 20 years old. Want to find out what I have done in regards to my list? - 23305
Never say, when asked what you will do when you retire,..." I am going to do nothing". Without clear-cut retirement goals, you will soon be bored with retirement. Without goals you will become frustrated.
In retirement planning, you need to be clear about two things...what you want to do...what you never want to do again. You and your spouse should make these two lists, then compare lists. You for instance may want to play golf every day, or have the weather to make golf doable every day. Great...but not if your better half wants to be able to ski close to your house. Better find out what the differences are now, and work them out, now rather than later.
Don't retire to watching soap operas. The couch is no place to be retired for a long time. You know it is unhealthy. You want to be able to retire for many years. Staying healthy, should be on everyone's list.
Your lists need to be specific. Be honest with yourself. If you never want to rake leaves again, a big house and yard in the Midwest is not for you. If you want to sail year round San Diego may be better than Omaha.
The more focused and clear your goals are the better. For instance learning to speak French as a goal is too broad. Instead stay I will be able to speak passable French 6 months after I retire. Then it is OK to go buy the language software.
Early retirement planning usually focuses on money. If you focus solely on money you will not enjoy retirement. Your financial planner is a specialist in the money side of retirement, it is up to you to define what you are retiring to.
Do you need some prodding to get your retirement list building started? I have been retired 15 years, my two lists are 20 years old. Want to find out what I have done in regards to my list? - 23305
About the Author:
To find out what was on the authors lists for early retirement planning. If you are contemplating retirement, but do not think you can afford it you need frugal retirement living. Do not quit on retirement before going to this site.
posted by Mr. Forex at
12:36 AM
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