The transition from working to being “retired” is more challenging to navigate than you may realize. The dream of not working anymore, the ultimate goal of our stressed modern workforce, can feel daunting as the time approaches.
You’ve probably considered questions like:
- Have I have saved enough money to last until I die?
- Will social security stay solvent?
- How will I pay for healthcare if I retire early?
- How do I minimize taxes in retirement?
But if you dig deeper, these questions may arise:
- Where will I get my sense of identity now that I don’t have a job?
- How will I know if I’ve saved “too much” money?
- How much I can spend on the people I love and the experiences I want to have?
- Without a regular job, how will I get the social interaction I’m used to?
- Should I be enjoying myself now, while I’m still healthy, or stay on a budget so I will “have enough” in my later years?
A thoughtful plan for retirement requires financial calculations. But a deep look at what you value and how to make the most of your precious time may be even more important.
On the Trail Financial Planning is your guide during this exciting and uncertain time.