Retirement Planning

So you are retired now, have you budgeted and planned for the first three stages of retirement?

The Honeymoon/Transition period asks the question – What do I do with the rest of my life?

With your newly found freedom, do you; sleep in? relax? and/or catch-up on delayed projects?  In time, retirees will often become restless, lose self-esteem and want to become productive again.  This is the right time to pursue a new outlet for your energy and talents.


Full Steam Ahead

It's a time to pursue your dreams….become an active volunteer, create a business from a hobby, travel, join social or athletic groups.  It's a time to keep motivated.

The Sweet Years or Golden Years

We begin to look for easier ways to travel, entertain and be active. Some things we may have to give up but we can replace them with new adventures. The goal is to find a balance for this new lifestyle. 

Your Retirement Plan now begins to intersect with your Estate Plan.  If you haven't identified which goals are most important to you yet ...... this is time to get it done. 

Thom & Associates' though provoking questions:

  • Do you have a fall back plan if you outlive your income and assets?  Did you know that a 65 year old woman has a 50/50 chance of living another 20 years to age 85.

  • Will your spouse have money to live on once you pass?  Your spouse no longer has your income to rely on whether it be wages or government benefits.  Daily living expenses won't decrease, they will actually increase over time with inflation and cost of living. 

  • Is it important to you to be in control of your assets/estate?  Have you planned for the actuality that you may not always be able to make informed and capable decisions? 

  • Is leaving an inheritance to family members important to you?  Is there a family member that is dependent on you and the support you provide?  

Creating an effective plan is easy, committing and sacrificing to meet the goals of the plan is not... but for those who understand and accept the importance of it .... the world is your oyster!!