| If you are asking yourself, how much to retire? You | | | | hit the golf ball further, when they were 60 vs. 55? |
| are asking yourself the wrong question. It should be | | | | How much to retire is usually a question about money. |
| how bad do I want to retire? | | | | It should be time related, how much longer am I going |
| It is 2009 and 401K's have turned into 201K's...or worse. | | | | to be able to jog, play golf or tennis, play catch with |
| It is especially cruel to the baby boomers that have | | | | the grand kids, or anything else you enjoy doing? |
| saved and saved only to see many years of steady | | | | I retired when I was 49 by practicing frugal retirement |
| gains disappear in their portfolios. | | | | living. 14 years later, I am still retired and continue to do |
| There is hope to still go ahead and retire if you are | | | | the things I enjoy. It was more important to me to retire |
| willing to examine some alternatives to "normal" | | | | than to continue the lifestyle I had when I last worked. |
| retirement. I call it normal, because the massive financial | | | | My cheaper retirement lifestyles have included living |
| planning industry has conditioned us to a certain | | | | aboard a sailboat; full time RVing; park model living; all |
| formula for retirement. | | | | small space living. Ask yourself again...how bad do I |
| How much to retire usually goes like so...you need to | | | | want to retire? |
| have enough to generate 75% (or pick a number) of | | | | How much to retire, from a dollars standpoint, |
| the income you made when you last worked. | | | | decreases with these lifestyles, they are less |
| In 2009 that means no retirement for lots of boomers | | | | expensive. |
| if they believe that 75% criteria. | | | | If you think you can't retire unless you can still afford to |
| But how bad do you want to retire? Only you can | | | | belong to a country club...these lifestyles will seem |
| answer that question. | | | | foolish and Spartan. People may say I am depriving |
| But stop and think...you are swapping years of your life | | | | myself. The only thing I have deprived myself of is a |
| to gain a few more bucks to generate the 75% figure. | | | | commute. I don't miss the commute. |
| If you work another 5 years to "get there", you are | | | | So much of our old life was spent in keeping up with |
| going to enjoy retirement less. | | | | the neighbors...If that's important to you, how much to |
| Why? Because we not able to do the things, we could | | | | retire will be an ever increasing number. Meanwhile, |
| when we were younger...and I'm not just referring to | | | | you get older. |
| "that". As we age, we become less and less able to | | | | What's the worse that can happen? You might have |
| do the things we could 5 years ago. | | | | to go back to work. I'll take my chances...how about |
| How many people do you know that can run faster, or | | | | you. |