Retirement Planning About More Than Just the Money

7:52 pm Retirement Planning

plan a plan b 150x150 Retirement Planning About More Than Just the MoneySpring is the time when most people start planning their summer vacations.  If you usually take a month or two to plan your next week-long vacation, shouldn’t you give at least as much thought to planning what could be a 30-year vacation – i.e., your retirement?

In the long run, a successful retirement is infinitely more important than a successful vacation.  And just like a vacation, it is not only about what you will need to save to pay for it, it’s what you will be doing and where you will be doing it that ensures a happy retirement.

An essential part of planning your retirement is creating a detailed vision of how you will be spending your time.  If you don’t know yet how you will spend a typical day in retirement, how can you make a valid plan?  Does your vision coordinate with that of your spouse or partner?  If not, those issues need to be resolved.

Last week, the Employee Benefit Research Institute released its annual Retirement Confidence Survey with some startling findings:  for the first time, a majority (54%) of Americans have done no retirement planning.

Survey respondents said for the most part that they are just guessing at how much money they will need, and assuming they will be working longer or perhaps never be able to retire at all.  So have Americans given up on retirement altogether?

One thing is for certain: if you don’t make a plan to get somewhere, you’ll never get there.  It’s true for vacations and it’s true for retirement.

Contact our Orange County law firm today for retirement planning strategies that meet your individual circumstances.

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