10 STEPS TO A HAPPIER RETIREMENT AND DON'T SAY I'M NOT OLD ENOUGH

(These thoughts are added to three times each week and cover a large variety of subjects and insights)

It has been said that the trouble with retirement is you never get a day off. Therefore, to benefit the most from it…think on the following. And even if retirement is quite a ways in the future…start thinking about and planning your plans even now.

Think of retirement not as a time of being “over the hill” but rather a time to view the world from a different hill. Consider what you are retiring to, not just what you are retiring from. Yes, it should be a time for smelling the roses, but also a time for planting some.

1.You may be working into your nineties and loving every minute of it but whether it is a vacation or an avocation, nature abhors a vacuum. In short, when you retire…not what are your retiring from but what are you retiring to.

2.Whatever amount of time you have left before retirement, save more and spend less. Don’t buy everything within sight. Rather try buying with more insight.

3.And as a motivation, stop and figure out what your annual income would be if you were forced into retirement tomorrow. Then figure what you will retire with at say 70, not even thinking 65.

4.Today, the experts figure you need twenty times your present income in the bank, if you want to retire in the same financial neighborhood of your present income.

5.When the time comes think long and hard before you move into a retirement community or a smaller home. That is what about a third of retirees do, but you need to make your decision based on your own list of “Why To’s” and “Why Not’s”. Neither is bad idea, just two ideas that need careful thought.

6.When you think of long term nursing care, think statistics – the average nursing home stay is two to three years. Consider a bigger deductible vs. a bigger premium. But then, don’t spend so much time thinking you become your own worst enemy. And yes, let any conclusion simmer for awhile rather than immediately bringing them to a boil.

7.If at all possible, pay off your mortgage. It’s very comforting to know that, if needed, there is the possibility of a reverse mortgage rather than an ongoing mortgage payment.

8.Think capital preservation as well as capital appreciation. There are countless formulas, but the stock market is always a giant question mark. Remember, if an investment seems to be too good to be true, it probably is.

9.Last and certainly not least talk to a financial manager. However, check them out carefully because you don’t want one with any kind of vested interest in his or her proposals. And you certainly want first class recommendations about financial managers from friends rather than ads.

It may be an over-simplification but I think not too much so; Prepare for retirement so it will not be a time of sadness but of hope.

Have you considered putting all or an edited version of these ideas in your newsletter or your churches newsletter or your blog? IF YOU DO NOT GET A NEW IDEA EVERY DAY, LOOK WHAT YOU ARE LOSING. IF YOU DO NOT SHARE A NEW IDEA EVERY DAY, LOOK WHAT YOU ARE LOSING.