So what are your plans when you retire? When are you going to retire? Where will you retire? Now, we are no where near "retirement age", whatever that means anymore, but people always ask. To be fair, they ask because my husband is active duty military. We are bumping up against a full military career so people ask the inevitable "what's next?" question.
We have had a paradigm shift when it comes to retirement. We will probably never retire from doing something. We weren't born that way. We enjoy all that we do. Are we going to slog at jobs we hate because we have to? I sure hope not. That is where "retirement planning" comes into play. Saving for our future is very important. With that said, how we manage that piece is now different. We don't have an arbitrary number in our heads of what we think we need or what someone else thinks we need. There was a time I would calculate out for us and for others what their "number" for the future should be. Not anymore. I was younger and bought into the hype of the "number." I laugh when I see that commercial...do you know that commercial I am talking about...people running around with their "number?" The one thing I think they get right is that the "number" is different for everyone. And our "number" has gotten smaller. Our needs and wants have lessened as we have gotten older.
What got me thinking about this today was an article I read today titled Retiring, But Not. The premise of the article is that the supposed retired people in America are still looking for work, particularly part-time, to fill up their day. The woman started the article by discussing her mother's situation when she applied for a part-time job at the library. It got me thinking about my own mother and discussions we have been having lately. My mother is eligible to collect social security next year. She had been looking forward to retirement for years. Now that it is just about here I have asked what she plans on doing during said retirement. She has no idea. She thinks she may keep working. She knew that social security alone wouldn't be enough, but she has been widowed recently and her circumstances have changed as have her retirement plans. Funny thing about plans, they change and need to be updated.
I think what most people want is choice. By that I mean, people don't want to feel like they have to continue if they don't want to. And that is where our "number" comes into play. That "number" gives us freedom to choose what we want to do as oppose to what we have to do. See I am pro-choice afterall! hahaha (just couldn't help myself!)
I talked about this with savings in one of my earlier posts. Having money in the bank gives us options. Having money in a retirement vehicle, whether it is a Roth or Traditional IRA, a 401k, a 403(b), TSP, or some other pension plan, gives us more dignified options when we are older.
Have you ever thought about retirement like that? Or are you just chasing a "number?"
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