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Even happy, successful retirees can experience some turbulence as they transition into the second half of their lives. I hope that folks who are preparing for or just starting retirement can learn from some of the most common regrets that retirees have talked to me about so that your journey into retirement can be a little bit smoother.
Where do you see yourself when you picture your dream retirement? Lounging on the beach? Playing golf with new neighbors in a gated community? Taking a quick walk from your condo to watch your grandkids play soccer? Moving abroad for an authentic international experience? Enjoying the hustle and bustle of big city living? Let’s examine some of the pros and cons of relocating in retirement, including potential effects on your financial planning.
Planning a vacation is often a balancing act between quality and quantity. But retirees who opt for slow travel may not have to make that choice. Rather than rushing from one attraction to the next, slow travel lets you really immerse yourself in your destination and get the most from two valuable retirement resources: your money and your time. Here are three reasons retirees should consider adding some extra days, or even weeks, to your next travel itinerary.
When you hit your 60s, you're going to pass some milestones on your financial plan that might make you feel a little ... Well ... old. Once you're past age 59 1/2, you can start taking withdrawals from your retirement accounts without a penalty.
We often caution folks against treating their retirement accounts like a windfall. But how should you manage an ACTUAL windfall, such as a large inheritance, a bonus or buyout from your employer, profit from selling a business, or winning the lottery?
In 2022, we regularly addressed two connected topics that caused some worry for retirement-age seniors this year: the up-and-down economy, and how its fluctuations were affecting retirement planning. Not surprisingly, our Top 5 Podcasts and Blogs all touched on one or both of those topics.