These notes are from a webinar offered by Fidelity. Any misinformation is the fault of the note taker.
– Think about money and how to spend your time.
– You can start planning on how you are going to spend your time. Some set up an agenda early.
– Now retirees spend a long time retired and they are healthier.
– Someone may live well into the 90s.
– 62% want to retire for family and grandkids.
– 50% of couples can agree on why they want to retire.
– as you maximize what is next’ your values will help you make a decision. you want to make the most of your time in retirements.
– Life begins at the edge of your comfort zones.
– People have an identifier associated with a career and create a new identity as a person who is retired.
– As a couple communicate is important
– communicate at every phase about thoughts and ideas
– Plan actives that build on shared values.
– practice shared decisions making
– Be open and willing to compromise to be in sync.
– Questions on retirement:
– Do you have a support network or people you can call on for support?
– questions to ask for retirement:
– Q: who do you want to spend time with?
– Q: what do you want to do
– Q: where do you want to be
– Q: when do you want to do it?
– rule of thumb:
10 x annual retirement at age 67. If you have 30 K annual salary, you would need 300 K
– How to tell if you are emotionally ready to retire:
– Ask what are you retiring to?
– Do you have a network of support including doctors?
– Some say I’m way busier in retirement.
– there is the temptation to be everything to everyone. have a plan and plan with other. and put aside the things that don’t interest you. You need to be able to say no.
– Set expectations with loved ones of what you will or will not do.
– William bridges: the transition model book
– Suggestions on mindset:
– Talk to a financial professional
– know about the 10x annual income.
– Embrace retirements
– learn about resources about retirements such as websites ARP.org next avenue.org
– get in sync as a person
Do you have something to add? If you do, please share in the comment section of this blog.
