By Craig Erwin, Ph.D.
Everyone around me seems to be planning to retire soon, if they haven’t already retired. A few are likely to retire right on schedule, but for many, their plans will change. Retirement plans can change for all kinds of reasons. Consider the following situations involving my friends, colleagues, and relatives:
- One of my colleagues retired early due to Covid-19, not wanting to risk his health by returning to the office after working from home for a year.
- A colleague postponed retirement year after year after year, even though his health kept declining. He lacked confidence that he had accumulated enough wealth to sustain himself and his wife, unsure how long they would live.
- A close friend retired a year later than planned when the pandemic scared him into re-thinking his assumptions.
- My brother-in-law plans to retire at the end of this year when he turns 65, but that could change if the economy stumbles or my sister loses her job.
The problem with trying to determine when to retire is that the future is filled with great uncertainty. We don’t know how long our cars will last, how healthy we will be, how interest rates will change, or if the economy will plunge into recession right after we retire. We can probably expect to live about as long as our parents, but there are no guarantees, and just about anything can happen. We can plan based on the most likely outcomes (e.g., estimated medical expenses, budgeted annual housing and food expenses, planned car purchases, average annual utility cost estimates), but, while some events and expenses will probably be much like what we expect, others may end up being wildly different.
We can easily decide to make retirement decisions entirely based on what is currently happening in our lives and in the world. If we do, it is easy to postpone retiring if unpleasant, tragic, or catastrophic surprises occur. If an illness, recession, or stock market crash occurs soon before we plan to retire, our fear and anxiety will likely cause us to look at everything more cynically and pessimistically. But if the economy is growing rapidly, unemployment is low, and the stock market is setting records, it will likely feel like the perfect time to retire. When everything is going well, you expect things to keep going well, so why not retire?
Of course, some need to concern themselves with whether the time is right to retire more than others. The wealthy certainly don’t need to worry about timing. Any time will work just fine; the sooner the better. For the rest of us though, retiring a couple of years earlier or later can mean the difference between retiring comfortably and retiring anxiously, between enjoying new adventures each day and living in constant fear, forever hoping that no unplanned setbacks or expenses surprise us.
There are many things you cannot control. That is what makes the retirement decision so daunting. But there are also many things you can control. And the more things you control, the more confident you will feel when you decide to retire. Here are some important things you can control.
- When you retire.
- The kind of lifestyle you enjoy after you retire.
- How much help you get from professionals such as financial advisors to help you prepare for retirement and live after retirement.
- How much you save for retirement; note that how much you save is the most important factor affecting how much wealth you accumulate for retirement.
- How much information you gather on retirement before you retire by asking retirees, experts, and professionals for advice and information.
- How much debt you pay off before retirement.
- How much you educate yourself by reading everything you can about retirement and how to plan for it.
- How much you plan for retirement.
- How much you make detailed retirement spending and wealth management plans.
- How much you make retirement contingency plans (in case everything goes wrong after you retire).
- Whether you practice retiring, spending vacations pretending you are retired, traveling to where you want to retire, and trying things you want to do after retirement.
Although retirement can be both thrilling and terrifying, by planning ahead, you can make sure you are as ready as possible. That way you should experience more thrills and fewer regrets.
Thank you, I have just been searching for information about this topic for ages and yours is the greatest I’ve discovered till now. But, what about the conclusion? Are you sure about the source?
Lovely just what I was looking for. Thanks to the author for taking his clock time on this one.
Link exchange is nothing else but it is simply placing the other person’s webpage link on your
page at suitable place and other person will also do same for you.
Everything wrote was very logical. But, think on this, what if you composed
a catchier post title? I am not suggesting your content isn’t good, but suppose you
added something that makes people desire more? I mean ARE YOU REALLY READY TO RETIRE?
– WOMEN RETIRE Photo From Shutterstock is kinda vanilla.
You might peek at Yahoo’s home page and see how they create news headlines to get
viewers to open the links. You might try adding a video or a pic or two to
get readers excited about what you’ve got to say. In my opinion,
it would bring your posts a little livelier.
Appreciation to my father who informed me regarding
this website, this web site is actually amazing.
Pretty nice post. I simply stumbled upon your blog and wanted to mention that I’ve truly loved
surfing around your blog posts. In any case I will be subscribing
on your rss feed and I am hoping you write once more soon!
I’m extremely impressed with your writing skills as well as
with the layout on your blog. Is this a paid theme or did
you customize it yourself? Anyway keep up the
nice quality writing, it is rare to see a nice blog like this one these days.
cialis lion tadalafil without a doctor’s prescription blood pressure on cialis
can you buy cialis with no prescription best price for daily cialis cialis by mail
cialis commercial generic version of cialis cheap generic cialis canada
This has to be one of my favorite posts! And on top of thats its also very helpful topic for newbies. thank a lot for the information!
I appreciate your work, thanks for all the great blog posts.
how much cialis to take hvtsgeahdadofeBtjshithj generic version of cialis cialis 40mg
A friend of mine advised me to review this site. And yes. it has some useful pieces of info and I enjoyed reading it.
Thanks for some other great post. Where else may anybody get that kind of information in such an ideal method of writing? I’ve a presentation next week, and I am at the look for such information.
Just came from google to your website have to say thanks.
This is something that will need all of our combined efforts to address.
30 day free cialis buy tadalafil cialis reddit
cialis no perscrtion buy c5 cialis professional viagra cialis
free samples viagra cialis cialis coupon cvs kupi online cialis
where to buy viagra pfizer viagra 100mg price best over the counter viagra
buy real viagra online sildenafil 20 mg best place to buy viagra online
stromectol for humans for sale stromectol for humans for sale stromectol for sale
stromectol for humans for sale stromectol for sale stromectol tablets for humans
generic ivermectin for dogs ivermectin 2 stromectol for humans for sale
lowest price tadalafil where to buy liquid cialis cialis 20 mg price
sildenafil sildenafil citrate 100mg for sale viagra tablets for men
stromectol 12 mg tablets prescribing stromectol stromectol 12 mg tablets
viagra tablets for men viagra where to buy price for viagra
cialis 20mg cialis tadalafil without a doctor’s prescription
clomid tablets for sale clomid tablets for sale where to buy cheap clomid online
stromectol prescribing stromectol stromectol price usa
prescriptions from india india pharmacies online india pharmacy without dr prescriptions
best treatment for ed cheap ed pills best ed pill
My programmer is trying to persuade me to move to
.net from PHP. I have always disliked the idea because of the expenses.
But he’s tryiong none the less. I’ve been using WordPress on various websites
for about a year and am worried about switching to another platform.
I have heard fantastic things about blogengine.net. Is
there a way I can transfer all my wordpress
content into it? Any kind of help would be greatly appreciated!
how do i get propecia finasteride cost finasteride for sale
stromectol coupon ivermectin medscape ivermectin 1%
where to buy finasteride propecia prescription purchase finasteride without a prescription
ivermectin cream reviews ivermectin lotion cost ivermectin sheep wormer
generic ed pills cures for ed ed treatment pills
ivermectin pubmed ivermectin for small animals ivermectin covid studies
ivermectin reddit stromectol metabolize ivermectin cream 1
It’s awesome to visit this website and reading the views of all friends
regarding this article, while I am also eager
of getting experience.
I just like the valuable info you provide on your articles.
I will bookmark your blog and check again right here frequently.
I am slightly certain I will be informed plenty of new stuff right right here!
Best of luck for the next!
cheapest ed pills ed pills that work cheap medications online
ivermectin coronavirus ivermectin for canaries ivermectin meta-analysis
prescription drugs online without doctor over the counter ed medication ed meds online canada
remedies for ed over the counter erectile dysfunction pills prescription drugs
cialis professional ingredients cheapest cialis usa best prices for cialis
home remedies for ed ed medication new ed drugs
generic ed pills erectile dysfunction treatment erectial disfunction
[url=http://cheapdrugs.store/#]buy prescription drugs without doctor[/url]
Hmm it looks like your site ate my first comment (it was
super long) so I guess I’ll just sum it up what I had written and say, I’m thoroughly
enjoying your blog. I too am an aspiring blog writer but I’m still new to the whole thing.
Do you have any recommendations for rookie blog writers?
I’d definitely appreciate it.
Hello, I think your site might be having browser compatibility issues.
When I look at your website in Ie, it looks fine but when opening in Internet Explorer, it has some overlapping.
I just wanted to give you a quick heads up! Other then that, superb blog!
I every time emailed this weblog post page to all my contacts, for the
reason that if like to read it next my friends will too.
Thanks for another informative site. Where else could I am getting that
kind of information written in such a perfect manner? I have a mission that I am simply now working on,
and I have been at the glance out for such information.
Good day! Would you mind if I share your blog with my zynga group?
There’s a lot of people that I think would really enjoy your content.
Please let me know. Thank you
Howdy are using WordPress for your blog platform? I’m new to the blog
world but I’m trying to get started and set up my own. Do you require any
html coding expertise to make your own blog? Any help would be greatly appreciated!
Its like you read my mind! You seem to know so much about this, like you wrote the book
in it or something. I think that you can do with some pics to drive the message home
a bit, but instead of that, this is great blog.
A great read. I will certainly be back.
It is truly a nice and helpful piece of information. I’m satisfied that
you shared this useful information with us. Please keep us up to date
like this. Thanks for sharing.
Hi, Neat post. There is an issue together with your site in internet explorer, could check this?
IE still is the market chief and a good component to folks will omit your magnificent writing
due to this problem.
Magnificent items from you, man. I’ve be mindful your stuff
prior to and you are simply too great. I really like what
you’ve acquired right here, really like what you are saying and the best way wherein you assert it.
You are making it enjoyable and you continue to care for to
stay it sensible. I can’t wait to read much more from you.
This is really a tremendous website.
Right here is the perfect blog for everyone who wishes to find out about this topic.
You realize a whole lot its almost hard to argue with you (not that I actually will need to…HaHa).
You certainly put a fresh spin on a subject which has
been written about for years. Great stuff, just excellent!
Very rapidly this web page will be famous amid all blog people, due to
it’s fastidious articles or reviews
An instant payday loan is a style of immediate credit where a good loan provider will expand high-interest credit depending on your earnings. The law is commonly some on your next payroll check. Online payday loans request excessive car finance rates meant for short-term instant credit. They have also been referred to as cash advance loans or test advance financial loans cash advance.
My biggest problem was being too conservative in my investments. Thanks to your sage advice, though, I ended years of single-digit annual returns by investing heavily in the stock market late last year. Now, only five months later, my annual return is 26%! Prior to this, my annual returns were below the 7% – 8% historical return of the S&P 500. I was way too conservative with my investment choices because I was afraid of the stock market bubble for years. I should have invested in the stock market regularly and automatically (dollar cost averaging). Had I done that, I would’ve had much more money saved for retirement, but it’s never too late to start investing the right way!