Early Retirement Planning, The Key Is The Plan
February 10, 2010 by Gary Pierce
Filed under Retirement
Planning early retirement? Some want to retire just to get away from a job they dislike. Be careful if this is you. You need to focus on retiring to something not away from your current situation.
I am going to do nothing when I retire. Anything but think about this place…your work. For sure there are a lot of folks unhappy with their jobs…but you need to have goals for what you want to accomplish when you retire.
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.
Laying on the couch may be your idea of retirement…but you realize that is unhealthy. One of your retirement goals…this applies to every one…is to be retired and healthy for a long time.
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.
Do not just look at early retirement planning from the money side…you will not be happy if you do. You will not hear of making lists of your retirement goals from your financial planner. That is not his or her job…that is your responsibility.
I made my list of goals and never agains twenty years ago…I have been retired for fifteen years. Want to see how I did?
To discover what was on the authors lists for early retirement planning. If you are contemplating retirement, but do not believe you can afford it you need frugal retirement living. Do not give up on retirement before going to this site.
