Will Your Retirement Wishes Come True?

Retirement wishes will come your way from colleagues and friends. Some funny, and some serious. But what really matters are your own wishes. And only you can make your wishes come true.

Your retirement wishes might influence your retirement planning, but it is your retirement planning that will make your wishes come true.

Pre-retirement

I read this very wise caveat recently: 'Welfare is not a retirement plan'. If you just assume that your retirement provision is adequate to make your wishes come true at retirement, you are heading for a disaster.

Our motto on this Web site is: Eliminate Uncertainty! And you can do it by following the steps we enumerate on this Web site. Educate yourself, take control of your retirement planning, and make adequate provision for your retirement. Visit the various discussions on this Web site to shape your retirement planning around your wishes.

In short you need to:

Start tracking your current spending
Reduce or eliminate spending that's consumption orientated
Get out of debt
Apply as much of your funds as possible to tax advantaged retirement provision plans
Save and invest in retirement accounts and funds
Take control of your personal retirement planning
Appoint an independent well qualified advisor to plan, invest, and manage your retirement portfolio

But you also need to plan what you are going to do during retirement. Your original wishes! If you don't have that, retirement will be very boring. Rather keep on working for as long as your employer would allow you.

Post retirement

If you have done your pre-retirement planning properly, your wishes for your retirement lifestyle should be achievable. But you still have to manage your retirement plan actively.

My wife and I dreamed of extensive travel during retirement. We lived our dream for eight years. Not rushing from place to place, but intensely experience the authentic lifestyle of communities with a culture that is centuries old. For example, our home base in Europe was in a village that have four churches – from ancient to modern. The oldest church was, according to the archives, restored for the first time during the eighth century!

We were Perpetual Travelers, or PTs, and we enjoyed it. When we were not on a trip we were busy planning the next trip! But when the world wide financial crisis started in 2007/2008, we had to moderate our spending. And thus our travels. We are positive that our portfolio will start growing again as the markets recover so that we can resume our travels.

Your retirement wishes will come true, but only if you make it happen.

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