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Old 03-03-2016, 08:36 AM
 
1,226 posts, read 1,258,573 times
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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?
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Old 03-03-2016, 08:59 AM
 
6,218 posts, read 4,718,283 times
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Who told you that you need a written retirement plan? Was that someone willing to help for a fee?
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Old 03-03-2016, 09:03 AM
 
Location: Central Massachusetts
4,800 posts, read 4,843,254 times
Reputation: 6377
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?


Based on what you have just put out you have a plan. The plan doesn't necessarily have to be etched in stone. If you have a spouse you and the spouse need to be together on the plan so you need both be on board. It is also a living document so as long as you can keep it updated in your mind it is your plan. If you forget stuff and need it written down then okay. Part of the written plan included wills and trusts. Knowing where you keep important documents. Having a safe off site place for that stuff is good too.
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Old 03-03-2016, 10:42 AM
 
2,591 posts, read 5,284,814 times
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> I've been reading that I should have a written retirement plan.

Sounds too much like work.
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Old 03-03-2016, 10:59 AM
 
71,480 posts, read 71,652,652 times
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the best thing about retirement is we have no written plan . we just have endless thoughts of the things we would like to do .
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Old 03-03-2016, 06:44 PM
 
Location: Los Angeles area
14,018 posts, read 17,726,438 times
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Quote:
Originally Posted by jrkliny View Post
Who told you that you need a written retirement plan? Was that someone willing to help for a fee?
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 .
Pretty much what I was thinking. I question the need for a written retirement plan. Some people may wish to have one, and I see nothing wrong with it, but the "need" for one has more to do with our individual personalities than with any objective "need". OP, do you feel the need? If so, go to it. As for what to include, that's totally up to you!
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Old 03-03-2016, 06:54 PM
 
Location: Sierra Nevada Land, CA
8,390 posts, read 9,134,430 times
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My retirement plan was it's time. I can do it income wise. I did it. Like everything else in life one can over analyze and then not do what you hoped to do. Don't be that person.
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Old 03-03-2016, 07:23 PM
 
Location: Central IL
15,201 posts, read 8,509,345 times
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I don't see a plan as over-analysis. I see it as anticipation for what is to come.

A lot of stuff rolls around in my mind and sometimes it seems like a lot of really cool stuff - then I write it down and I find out I got nothin'! I'd rather figure that out before I quit my job!
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Old 03-03-2016, 07:55 PM
 
Location: Mount Pleasant, SC
1,935 posts, read 2,467,398 times
Reputation: 1671
Quote:
Originally Posted by reneeh63 View Post
I don't see a plan as over-analysis. I see it as anticipation for what is to come.

A lot of stuff rolls around in my mind and sometimes it seems like a lot of really cool stuff - then I write it down and I find out I got nothin'! I'd rather figure that out before I quit my job!
Smart lady!
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Old 03-03-2016, 08:18 PM
 
1,226 posts, read 1,258,573 times
Reputation: 4309
Quote:
Originally Posted by jrkliny View Post
Who told you that you need a written retirement plan? Was that someone willing to help for a fee?
A couple of books about retirement and a few articles in the news mentioned that everyone should have a written retirement plan.

Thank you, everyone. I feel better knowing that it isn't common to write down plans.
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