I also like the beach. I like getting up when I want to and going to bed when I choose. I like not shaving every now and then. I love spending lots of time with my wife, my family, my friends, and my dog. And oh, it would be nice to be able to read for pleasure again, do a little community theatre, and get out my old trombone…
My point is that even though I like what I do for a living, part of me is already looking forward to retirement. Now I’m pretty certain I’ll still be willing to help family, friends, and my favorite clients under the right circumstances even after I’ve turned the light off in my office for the final time, but I’m also pretty sure that my job puts enough pressure on me to make me not want to work as hard as I do if, financially, I didn’t have to.
Many people my age seem to feel the same way, and with that in mind, I think it is high time for me to write a series on what you need to do to retire early. Over the next several weeks, I’ll discuss how reaching financial independence really is now versus later and why it is absolutely critical for you to start strong so you can finish even stronger. I want to cover how important real estate and health insurance are to retirement planning. I will also give you some retirement cash flow strategies to consider, and even explore why you might not want to retire early after all, even if you could!
If you’re already shaking your head and wondering why someone my age might already have the audacity to be thinking about retirement, let me offer the simple response that you can’t blame us! My generation has seen our parents and grandparents laid off or forced out at the end of their careers, we’ve seen pensions reduced and “guaranteed” benefits cut, and we’re uncomfortable relying totally on Social Security. To the people roughly my age, I’d offer that if we’re going to have a chance of financially making it in retirement, we need to act now - not 20 or 30 years from now!
I hope you’ll join me on this exciting journey and consider my thoughts and suggestions throughout this series. Please spread the word to your family, friends, and anyone planning for retirement or already in retirement who you think could benefit. Thank you!