Home > 10 things that helped me to...

10 things that helped me to...

July 8th, 2008 at 05:18 am

10 things that helped me to decide about retiring:

1) I listened to my doctor who said stress was ruining my health;
2) I took a class offered by my retirement system to help me understand all options;
3) I learned by reading and researching information on all aspects of retirement (financial, emotional, health care, etc.);
4) I calculated my defined benefit pension amount plus income from other sources (TSA, 457, IRAs);
5) I developed a realistic retirement budget that includes saving at least 15%;
6) I "practiced" living on my retirement budget for six months, using my lower pension amount instead of my monthly pay;
7) I made a list of monthly "retirement enjoyment" activities and their cost (factored into #5) and estimated the cost of annual travel since this will be an important activity;
8) I got input from my family (encouragement), my accountant (tax consequences), and my financial planner (analysis of investments);
9) I talked to as many retired people as I could about life after retirement (the majority said they have no regrets);
10) I made a list of the "pros" and "cons" of retiring, and, the "pros" won by a huge margin.

While I won't be officially retired until late August, I look forward to retirement as a stage in my life where I have more time, less stress, and better health. After 30 years of working in education, I still feel the need to continue teaching and learning. So, I will definitely keep learning by participating in experiences such as those offered by Elderhostel or by taking or teaching classes. It will be interesting to see how I feel about retirement a year from now.

1 Responses to “10 things that helped me to...”

  1. Aleta Says:

    You really have looked into all of your options. Great ideas that you have listed. One of the best is living on income you will receive in reirement to see how it will be. Good luck on your retirement plans.

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
Will not be published.

* Please spell out the number 4.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]