You can’t pick up a newspaper or magazine or scan Internet headlines today without seeing something about the challenges of retirement and new surveys about how unprepared people are. Yes, it’s a concern. But consider for a moment that, really, it’s a personal one.
You can solve your own concerns — you don’t have to tackle them on a national scale. To that end, break down your retirement income planning process into bite-sized steps, engage the help of financial professionals and do what’s necessary to start moving forward with planning for retirement. Then move on to the rest of your life, keeping retirement income planning on the peripheral.
When you’re actually in retirement, it’s important to stay on task but not obsess. Recognize that the first five years you may be working toward some of your long-awaited goals, like travel or starting a new venture. The important thing to bear in mind is that you probably won’t keep spending money at that same pace throughout your golden years. Those first few years you may run through some savings, but bear in mind that will eventually need to let up.
After a while, take a serious look at your retirement assets and review your budget. Is your retirement spending on track? Do you need to cut back or look at other ways to potentially increase your income? MORE
This blog is from Rich Paul’s page. He’s the host of the Rich Paul Show and a paid advertiser on WJR