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Old 03-03-2016, 08:47 PM
 
6,625 posts, read 3,754,399 times
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Quote:
Originally Posted by mathjak107 View Post
the best thing about retirement is we have no written plan . we just have endless thoughts of the things we would like to do .
That's because you have more than enough money. Most people have to carefully plan it out for various situations, length of life, unexpected expenses, etc. I do.
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Old 03-03-2016, 10:40 PM
 
6,273 posts, read 4,740,348 times
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Quote:
Originally Posted by bpollen View Post
That's because you have more than enough money. Most people have to carefully plan it out for various situations, length of life, unexpected expenses, etc. I do.
Did you read what the OP wrote? The OP has already put together financial, income and expense information. The OP was asking if other information, such as travel plans, should be written.
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Old 03-03-2016, 10:57 PM
 
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If I had wanted to write out goals and do spreadsheets, I would never have retired. I loved my career but I don't miss crap like that.
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Old 03-04-2016, 05:32 AM
 
Location: Central IL
15,251 posts, read 8,543,297 times
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Quote:
Originally Posted by biscuitmom View Post
If I had wanted to write out goals and do spreadsheets, I would never have retired. I loved my career but I don't miss crap like that.
OMG - I looooove my spreadsheets...on EVERYTHING!

But in general about writing down a plan....my first real boss out of grad school was a PhD researcher and he said that you've not really thought anything through until you actually write it down. The way you have to think about something to get it on paper brings up all kinds of details and possibilities you just don't get to when you're only "daydreaming" about something.
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Old 03-04-2016, 05:37 AM
 
Location: RVA
2,172 posts, read 1,268,333 times
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I agree with that. Writing stuff down solidifies it and gives it a cursory reality test. Its a plan, not a corporate decision. I Would bet that people that wander through life without a plan, tend to retire that way. There is everything in between, not just totally unorganized and totally organized.
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Old 03-04-2016, 06:21 AM
 
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I wonder how many of you who believe in a written retirement plan, also had written plans for other phases in your life. Did you write out a plan when you went to high school or college, or started your first major job, or got married, or had kids?


I have gone through life with goals and ambition but no written plan. I have never blindly wandered through life. No one would ever accuse me of being disorganized or lost in day dreams. I find that as I go through life, I often encounter the unexpected. The common analogy is a fork in the road. I find a plan that often needs to be thrown away is not as valuable as knowing yourself, being willing to take action and knowing the what direction is you will be happy with.
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Old 03-04-2016, 07:26 AM
 
Location: Central IL
15,251 posts, read 8,543,297 times
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Quote:
Originally Posted by jrkliny View Post
I wonder how many of you who believe in a written retirement plan, also had written plans for other phases in your life. Did you write out a plan when you went to high school or college, or started your first major job, or got married, or had kids?


I have gone through life with goals and ambition but no written plan. I have never blindly wandered through life. No one would ever accuse me of being disorganized or lost in day dreams. I find that as I go through life, I often encounter the unexpected. The common analogy is a fork in the road. I find a plan that often needs to be thrown away is not as valuable as knowing yourself, being willing to take action and knowing the what direction is you will be happy with.
Nope I was too dumb back then! Now I have all the knowledge I can handle through Google and the wisdom of you guys!

Anyway, the further you get along in life the less time and room you have to make corrections - I'm gonna do everything I can to not screw up my "golden years".
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Old 03-04-2016, 01:51 PM
 
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I certainly never wrote a concrete plan. Like you I keep track of my income, expenditure etc. which is important. I'd like to think that one of the best things about this part of life is being able to go off plan a bit!
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Old 03-04-2016, 09:11 PM
 
Location: Cold Frozen North
1,928 posts, read 4,633,519 times
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Quote:
Originally Posted by biscuitmom View Post
If I had wanted to write out goals and do spreadsheets, I would never have retired. I loved my career but I don't miss crap like that.
I agree with you. I can retire if I want probably a year from now, but there's no way I'm writing up goals and doing more spreadsheets. I've done so many of those things including PowerPoint presentations that could make my head spin during my career.


One of the goals of retirement is not to have to do busy work. I'll just take it one day at a time.
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Old 03-05-2016, 08:19 AM
 
29,782 posts, read 34,880,403 times
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Quote:
Originally Posted by LookingatFL View Post
I've been reading that I should have a written retirement plan. I'm not sure what goes into it beyond financial information.

Currently I have a statement of net worth (with assets broken down by class and showing the percentage of the whole) and liabilities.

I have an excel spreadsheet showing my income and expenses (broken down by category and percentage of income) for each year since 2009.

I also have a spreadsheet showing where my retirement funds will come from and how much from each income source and the total amount expected.

Should I include my vague travel plans? and other vague ideas to keep myself busy?

Should it include my target age to apply for Social Security?

Should it include the age I plan to start researching CCRC's and other senior living options?

What exactly goes into these written plans beyond financial information and rebalancing information?
I think you gave already done just about all of the above. How you organize it for review is up to you and those you share your plan with. Like you we evaluate what our future uptions are and place a price tag and feasibility on. We know current future living options with current price tags and projected assets for. Is it a formal written plan? NO! Is it pondered often? YES! Reviewed? Yes! Expanded on? YES! I suspect you do much the same.
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