ARE YOU READY??

I can’t wait to retire! It doesn’t matter if you’re in your 30s, 40s or 50s, I bet you’ve had that thought at least once a week, especially when things are going bad at work. Like most Baby Boomers, I started thinking about Retirement as soon as I graduated from college and started my first professional job in my 20s. At work, it was a recurring topic because I worked with a group of older men near Retirement age. They constantly debated the value of a Federal Pension versus private industry, how they’d spend their days golfing and of course, money. Money was always such a hot topic as some of those guys were so old that they were kids during the Depression. When I finally decided to retire 37 years later, I thought I was well prepared because I could look forward to a good Federal Pension. But after being retired for several months, I discovered there were some topics I wished I had considered, some issues that I had never even thought about.

So what about you ---think you’re ready to retire? Before mouthing a quick “YES” just because you’re old enough, the $64,000 question to ask yourself is: WHAT AM I RETIRING TO? Take a few minutes, grab a cup of coffee and start thinking about these questions:

Do I look forward to going to work on Monday morning?

Do I fill my weekends now with enjoyable activities?

Can I get up in the morning without going to a workplace and still be happy?

Do I have any hobbies that I want to spend more time at?

Can my spouse retire at the same time? If not, how do they feel about my retiring?

How will my social and family life change when I retire?

Do I want to work part-time during retirement?

How will I handle a medical emergency or serious illness?

Where will I get Health Insurance coverage?
Will I have enough money coming in to cover my expenses -- from my pension, Social Security and savings? Donations from my kids (sure)?

Where do I want to live after I retire?

With some many areas of your life radically changing when you retire, before giving yourself the "Green Light" to retire, use a little caution. Just like the Stop Light above, spend a little time in the "Yellow caution" zone. Taking the take the time to answer the above questions will give you a head start in planning how you’ll spend those extra 60 to 70 hours a week you’ll gain when you retire. Creating a Time Management Plan based on your personal answers will reassure you that you'll know exactly "What am I retiring to?" and will give you the confidence to move out of the "Yellow caution zone". Any special areas of concern --- send your questions to Retired.Rosie@gmail.com

P.S. -- Take another look at the Stop Light picture above. Did you notice the Nest Egg? I loved it -- because in retirement your financial Nest Egg is the solid foundation to fund all the fun things you want to do!