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I am 56 yo and the concept of retirement is coming into focus. I would be really interested to know from those either in the same situation or already there:
1. What are your top 3 objectives in retirement?
2. What are your top 3 challenges in achieving those objectives?
3. What are you doing about the challenges?
I am 56 yo and the concept of retirement is coming into focus. I would be really interested to know from those either in the same situation or already there:
1. What are your top 3 objectives in retirement?
2. What are your top 3 challenges in achieving those objectives?
3. What are you doing about the challenges?
Any input gratefully received!
Not overthinking goals and challenges. Just quit working and enjoy life.
Last edited by volosong; 08-16-2017 at 07:35 AM..
Reason: fixed close quote hypertag
Hey OP
I definitely have goals. lol, I'm a "list maker" from way back.
1) research a beach community to be a snow bird in./beach house
2) spend considerable time in france.
3) find a charity to support or get more active in my church
first, I do try to remember that objectives change. my number 2 and 3 have changed over time. My number one has been pretty consistent. Now I had to make it a goal if I plan on purchasing a beach house. I don't have the funds to just pop down to florida and buy real estate.
I'm planning on retiring in 2 years at 58. I'm now researching various locations and starting January I plan on visiting the top three.
never wear a uniform again
never justify to anyone how I spend my time
okay. one positive: slow down. When I started tai ji classes the instructor always told me to slow down. I realized nobody had ever told me that in 35+ yrs of working. Slow is nice. I like it.
To me, goals like mentioned above are just another cause for stress.
different strokes for different folks, as they say but for me, no goals, no stress.
just relaxing.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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What are your top 3 objectives in retirement?
-Move to a smaller home with more land in a less expensive area within about 2 hours away.
-Live comfortably with no mortgage.
-Big enough garage, barn or other outbuilding to restore a classic vehicle and other projects and space for an RV.
What are your top 3 challenges in achieving those objectives?
-Unloading the remaining stuff from raising 3 kids, to downsize from a 3,000 sf house.
-No way to ensure that the market will keep escalating our property value at 10-12%/year, fortunately we already have enough equity to pay cash for the next house as long as values don't decrease.
-Despite much research, still not settled on where to move, with several possibilities.
What are you doing about the challenges?
-Continuing to contribute as much as possible and legal to 401k and 457, as well as pension plan.
-Spend at least some time each week getting rid of non-essential items.
-Visiting other areas where we might move to see what they are like under various conditions.
I am 56 yo and the concept of retirement is coming into focus. I would be really interested to know from those either in the same situation or already there:
1. What are your top 3 objectives in retirement?
2. What are your top 3 challenges in achieving those objectives?
3. What are you doing about the challenges?
Any input gratefully received!
1 ) move to a warmer climate; live below our means, pick up some cheap rentals
2) still having jobs in the NE; lack of means; no money yet to allocate to rentals; added: our 83 &89 yo fathers haven't passed yet
3) lol: waiting for father's to die, plotting how to kill them in their sleep ( kidding of course); trying to save as much as possible; looking forward to our vacation to our selected retirement area next year.
I don't know if YOU are looking for direction or just curious. But what someone else does may not be right for you.i will be 54 shortly and have been disabled and draw SSDI for 13 years. I've worked on and off but now am working as much as I physically can and still collecting while I can, so I've had a taste of retirement. Now my SSDI doesn't pay as much of the bills as it used to.
In short, live below means, save and choose how to invest, and work to overcome YOUR obstacles. Not mine not Joe the plumber, not the neighbors.
Change YOUR perspective and focus on figuring out what YOU want to achieve in retirement.
It's still not to late for you to invest wisely for the next 20 years before needing that money for your elder years. You'll be 76 then, might even be able to stay invested wisely for another 25 years.
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