When it comes to retirement, everyone has a different vision. But the path there is the same: you work, you save, and hopefully at some point you’ve saved enough that you can stop working and do something else. How much work before retirement is enough? And how much savings is enough? How long will “retirement” last? Years ago, retirement meant a full stop on work and taking it easy for the last 10 to 15 years of your life. But nowadays, retirement may mean a second career, travel, making new friends, or really, whatever intrigues you.
So how do you plan for a stage in your life in which virtually anything can happen? With no crystal ball to peer into, it’s not easy. But luckily, there’s help. The attached workbook from New York Life and Mainstay Investments, Transitioning into retirement: Five steps today for a smoother tomorrow, is a great place to start. It discusses the practical and financial aspects of retirement and includes a checklist to capture your specific retirement thoughts and desires. Take a look, give it some thought, and then let’s connect to talk it through. The sooner you start planning, the sooner you’ll have some answers about how your retirement vision plays out.
Your road to retirement
May 27, 2020