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We've talked finally and projected a workable plan for about 5 years down the road, as to where and how we want to live (and prepare for that) in our 70s (we're 67 and 68 now). My retirement group has also been talking a bit about this kind of thing.
I already know: man plans and God laughs, and life can turn on a dime and all that, no need to repeat it.
Just wondering if anyone else here has a projected living plan, and how you came to the decisions you did, even knowing that you may well have to be flexible due to health, unexpected changes, etc.
We've talked finally and projected a workable plan for about 5 years down the road, as to where and how we want to live (and prepare for that) in our 70s (we're 67 and 68 now). My retirement group has also been talking a bit about this kind of thing.
I already know: man plans and God laughs, and life can turn on a dime and all that, no need to repeat it.
Just wondering if anyone else here has a projected living plan, and how you came to the decisions you did, even knowing that you may well have to be flexible due to health, unexpected changes, etc.
Done with one five year plan in the middle of the next five years. This includes a future housing review at age 70 and a real need to make some future driven decisions. Annual reviews and tweaking if wanted which it does.
Five year plans? Sounds like Soviet economic policy. Why five years? What's there to plan for? Either we have enough of an income stream to live on or we don't. Or maybe we have to squeeze our expenses to fit the income. But the plan would have to envisage more than five years to make any sense, unless we are convinced we will be dead by then.
I did not have, and continue not to have, any specific plan whatsoever. I just spend less than I take in, a life-long habit, and it works great.
Done with one five year plan in the middle of the next five years. This includes a future housing review at age 70 and a real need to make some future driven decisions. Annual reviews and tweaking if wanted which it does.
I like the idea of "reviews" as opposed to just winging it. So many seniors I know don't make any changes till a problem arises that could have possibly been foreseen.
Five year plans? Sounds like Soviet economic policy. Why five years? What's there to plan for? Either we have enough of an income stream to live on or we don't. Or maybe we have to squeeze our expenses to fit the income. But the plan would have to envisage more than five years to make any sense, unless we are convinced we will be dead by then.
I did not have, and continue not to have, any specific plan whatsoever. I just spend less than I take in, a life-long habit, and it works great.
Well if you have no intentions of relocating or downsizing then there is no need for any 5 year plan.
I, for one, plan to relocate sometime in the future and that requires a plan.
Five year plans? Sounds like Soviet economic policy. Why five years? What's there to plan for? Either we have enough of an income stream to live on or we don't. Or maybe we have to squeeze our expenses to fit the income. But the plan would have to envisage more than five years to make any sense, unless we are convinced we will be dead by then.
I did not have, and continue not to have, any specific plan whatsoever. I just spend less than I take in, a life-long habit, and it works great.
No, not a Soviet policy, LOL.
I guess because I was in nonprofit organization planning that I'm so used to doing 3- to 5-year projections, both financially and developmentally. This provided a good map, with variable contingencies, that allowed us to keep on track and stay afloat. It's not just about income, but other factors as well, as in travel plans, living/moving plans, lifestyle choices at certain ages, etc. Serendipity is good of course, though maybe having a navigation map can ensure that wishes and needs are based on probable reality. At any rate, the plan feels good to have filed in our minds.
I like the idea of "reviews" as opposed to just winging it. So many seniors I know don't make any changes till a problem arises that could have possibly been foreseen.
I use a 1-3-5 year plan. It works for me. And every year around Christmas time I sit down and do a big review.
I use a 1-3-5 year plan. It works for me. And every year around Christmas time I sit down and do a big review.
That is actually a good way to do it. It is like us doing 30/60/90 training scheduled meetings. 30 days out finalize any requirements. 60 days see where people are in their assignments and get detailed resource lists. 90 days assign people tasks and begin to see what resources will be required. So putting that to use in a life plan once retired or otherwise is a good idea. You can do it formally or informally. It just is something to do as you are thinking about what to do.
That is actually a good way to do it. It is like us doing 30/60/90 training scheduled meetings. 30 days out finalize any requirements. 60 days see where people are in their assignments and get detailed resource lists. 90 days assign people tasks and begin to see what resources will be required. So putting that to use in a life plan once retired or otherwise is a good idea. You can do it formally or informally. It just is something to do as you are thinking about what to do.
It's fashioned after the 1-3-5 business plan process. If it works for business why not in your personal life as well.
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