Just what is a successful retirement? Perhaps not having to work after you ‘retire’ is how you define it. More likely you are thinking about traveling, time with family, remaining healthy and active…good things. Fact is you should probably avoid the first thing before you focus on the others. Now, you may want to work in retirement, that’s fine. You may call it a ‘second act.’ Maybe you can truly devote your time and energy to a cause you support, or flip properties; more power to you. I think you can do everything right in your run up to retirement: saving more than you think you need right from the start, watching fees, being aggressive enough, etc. If you get the income side of the equation wrong, though, it can blow it all. This brings us back to a few recurring themes: longevity, expenses and withdrawal rates.
Successful Retirement: Just what do you need to do right to make it happen?
This author has put a lot of thought and effort into the right withdrawal rate. Fact is that longevity, fees and investment strategy are all important determinants. If you retire at 65, will you be retired for 40 years? For many of you, yes. That makes this article a must read. It is also a huge eye-opener (sorry). A ‘Safe’ Withdrawal Rate Highly Depends on Longevity and Asset Allocation
These may be repeats, but warrant repeating. The notion that a flat withdrawal rate will match reality is hard to fathom. This construct makes a lot more sense. You will slow down as you age, right? Then the medical bills will likely ramp up later, right? What is the ‘Retirement Spending Smile?’ and Retirement Spending Increases and Decreases Over Time
I really try not to annoy you with hard to read articles. This one makes some good points, but you have a short time to read it. So, keep reloading the page and work your way down. How Much Money Do You Need to Retire?
One thing is certain, your cost structure in retirement will matter. One way to effect that is moving to a lower cost of living. The 50 Cheapest Places to Retire in the US (I suspect my many NJ friends may not have considered Newark!)
Successful Retirement: As suggested above, it is not all about money. Keep your mind active.
And you thought it was a bunch of books. These 250-Plus Violins are About to be Owned by the US Government
Lots of you will make your way to NY City during the holidays. Maybe this is an interesting aside. Secrets of New York’s Grand Central Terminal (remember when that ceiling was black?)
You know this technology will make its way to your phone before too long. I can sure use it! NASA’s New Camera Is Straight from the Future with Incredibly Detailed Footage
This one is a warning that it is not that simple. Climate change is a controversial subject, and it takes more work than you think to understand. How did one volcano confuse scientists, ocean research?