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Old 08-12-2015, 01:35 PM
 
Location: Idaho
6,346 posts, read 7,722,908 times
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NYgal2NC mentioned something that reminded me to ask about. I'm confused how it is defined.

What exactly is a 'successful retirement'?

Whatever it is, what would be its opposite? An 'un-successful retirement'? Death?

This was mentioned a whole bunch of times yesterday during our weekly 'retirement group' lunchtime get-together where presentations are given about all aspects of retirement. The presenter, obviously a sales/marketing type guy, make a lot of references to a 'successful retirement', but never defined what it is. Surely money is not the only indicator. There are lots of people with rewarding, fulfilling retirements who don't have a lot of discretionary funds. Any idea what this concept is talking about? It seems to be a common theme, especially with financial type people.
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Old 08-12-2015, 01:49 PM
 
Location: Verde Valley AZ
8,775 posts, read 11,880,394 times
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Quote:
Originally Posted by volosong View Post
NYgal2NC mentioned something that reminded me to ask about. I'm confused how it is defined.

What exactly is a 'successful retirement'?

Whatever it is, what would be its opposite? An 'un-successful retirement'? Death?

This was mentioned a whole bunch of times yesterday during our weekly 'retirement group' lunchtime get-together where presentations are given about all aspects of retirement. The presenter, obviously a sales/marketing type guy, make a lot of references to a 'successful retirement', but never defined what it is. Surely money is not the only indicator. There are lots of people with rewarding, fulfilling retirements who don't have a lot of discretionary funds. Any idea what this concept is talking about? It seems to be a common theme, especially with financial type people.
I have a hunch that, to a financial sales/marketing type, money WOULD be the criteria for a "successful retirement". What else do they cover under "all aspects of retirement"? I'd say that if you have the finances well covered anything else to do with being retired will take care of itself, for the most part. Not having to worry about it frees people up to do what THEY want to do, etc.. Successful retirement...
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Old 08-12-2015, 01:49 PM
 
Location: Eastern Washington
17,158 posts, read 56,905,862 times
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OK I will give it a shot. Successful retirement is having good enough health, along with enough paid for stuff and income to be able to do the things you and yours want to do in retirement.

Obviously it depends on how you want to play the game, how much income you need.

Examples from around the forum - I think Mad Man exemplifies someone who engineered up a high income retirement and is having a good time with it. He worked harder for less current income at his old government job in order to have that pension.

I think Escort Rider and Submariner are examples of guys who engineered up successful low income retirements. They have set things up in their lives to not require a lot of cash income to have a good quality of life.

To me an "unsuccessful" retirement is either one where you have to spend all your time trying to economize to make do on a very small income, or you have to re-enter the work force to be able to make ends meet.
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Old 08-12-2015, 01:59 PM
 
Location: Idaho
2,097 posts, read 1,923,295 times
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A quick web search yielded several 'definitions' and/or guidelines to have a 'successful' or happy retirement life

http://www.retirementlifestyle.com/t...tirement-life/

Quote:
1. Having a positive attitude towards towards your future
2. A clear vision of the kind of life that you want.
3. A healthy approach to mental and physical aging
4. A positive definition of ‘Work’
5. Nurturing family and personal relationships
6. An active social network
7. A balanced approach to leisure
8. Maintaining ‘financial comfort’
10 Secrets to a Successful Retirement - Next Avenue
Quote:
A successful retirement today is often about re-creation — redefining who you are to make your future as meaningful as possible.
1. Find your passion
2. Free fall creates a new freedom to be ourselves
3. Create a success inventory
4. You will see more opportunities when you prepare yourself to see them
5. Push back against the limits you've set for yourself
6. Embrace contradictions
7. Add new tools to your belt
8. Talk with your partner about what each of you wants out of retirement
9. Keep a green tree in your heart and perhaps the songbird will come
10. Retirement is not an end, but a new beginning
Boomers’ Secrets of a Successful Retirement - US News
Quote:
Secret No. 1: Your emotions and physical health are as important as your finances.
Secret No. 2: It’s normal to feel stressed before retirement.
Secret No. 3: Having a pension can help.
Secret No. 4: Don’t jump into retirement without a plan.
Secret No. 5: The retired life is also the busy life.
Secret No. 6: A successful retirement requires couples to communicate.
Secret No. 7: We’re really happy to be retired.
It's interesting to note that the last article had this surprising conclusion (secret no. 7)
Quote:
Despite the conventional wisdom that says Boomers are woefully unprepared for retirement, this first wave of retirees is by and large happy and feeling in control of their future.

Keckler says 97 percent of those surveyed report they are satisfied with their new lifestyle. Or as Darling puts it: “We’re supremely happy in retirement.”
So it appears that a successful retirement = happiness & money is not the only or required ingredient to contribute to a satisfied/contented retired life.
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Old 08-12-2015, 02:06 PM
 
12,823 posts, read 24,344,965 times
Reputation: 11041
Quote:
Originally Posted by AZDesertBrat View Post
I have a hunch that, to a financial sales/marketing type, money WOULD be the criteria for a "successful retirement". What else do they cover under "all aspects of retirement"? I'd say that if you have the finances well covered anything else to do with being retired will take care of itself, for the most part. Not having to worry about it frees people up to do what THEY want to do, etc.. Successful retirement...
Please allow me to amend what you wrote. For the brigand who "hosts" a "free" meal to present "successful retirement strategies" success is defined as you placing your funds with said host, of course, paying a fee. As the adage goes, more for me, less for thee!

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Old 08-12-2015, 02:13 PM
 
Location: Verde Valley AZ
8,775 posts, read 11,880,394 times
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Quote:
Originally Posted by BayAreaHillbilly View Post
Please allow me to amend what you wrote. For the brigand who "hosts" a "free" meal to present "successful retirement strategies" success is defined as you placing your funds with said host, of course, paying a fee. As the adage goes, more for me, less for thee!

LOL...agree, 100%!
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Old 08-12-2015, 06:43 PM
 
2,189 posts, read 2,599,192 times
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Successful means being able to do what you like.
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Old 08-12-2015, 08:52 PM
 
1,844 posts, read 2,419,645 times
Reputation: 4501
Quote:
Originally Posted by volosong View Post
NYgal2NC mentioned something that reminded me to ask about. I'm confused how it is defined.

What exactly is a 'successful retirement'?

Whatever it is, what would be its opposite? An 'un-successful retirement'? Death?

...
I agree with Ben Franklin. "Happiness" = "Income > Outlays".

Everything else falls into place, IMHO, provided that you can eliminate THAT major source of stress.

Assuming you have enough to cover whatever it is, impediments to happiness dissolve. From that standpoint, it helps if your outlay variables are under your control. E.g., dump your liabilities (debt; toys you still pay for) prior to cutting the cord to well-paid employment.

Many years ago, when I was still in CT, I moved around with the self-professed movers and shakers, squinting through one eye and controlling the grimace. At one benefit for the FSA, I heard one of the big swinging d*cks comment to another: "Boy is your wife hot!". The recipient said, quite clearly, "You are welcome to take over the payments". One of the BSDs subsequently took a vaca in the Federal pen. The one with the hot wife declared bankruptcy. Wife naturally dumped him. Unbeknownst to her, she had missed the window. She is now on her eleventh minimum-wage job. But she still has her jewelry so all is good - she's ready to go another round!

I am of the opinion that you create your happiness between your ears.

Watch me crumble and whine like a baby if it turns out that self-reliance doesn't have a payoff, lol!
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Old 08-12-2015, 09:02 PM
 
Location: Sugarmill Woods , FL
6,234 posts, read 8,411,959 times
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If you can pay your bills, have a roof over your head, and eat regular meals, and have some health left to enjoy your retirement!
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Old 08-12-2015, 09:48 PM
 
Location: Traveling
7,023 posts, read 6,257,151 times
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I'm very comfortable. I live in an income based senior building in a small town & am content. Because my housing is income based, with cable added on for $35 per month & utilities included, I've decided to stay , rather than wander, because I am very comfortable here & even able to save each month.
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