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The Reluctant Retiree

The Reluctant Retiree

The list of things we put off doing can be long. Sometimes it’s a simple case of procrastination, but we often have other reasons to avoid taking action. Sometimes we just make excuses. This is especially true if we have a big decision to make – like retiring. Reluctant retirees may be concerned about any or all of the following issues:

Having Enough Money

One of the biggest worries about retirement is whether you’ll have enough money. The first place to start, then, would seem to be taking a hard look at your budget. What will your living expenses be if you retire? With job-related expenses gone, how much income will you need to have a vibrant, active retirement?

Obvious sources of income include Social Security, pensions, or payouts from retirement accounts. But before taking the plunge, thoroughly review how much your monthly income will be from all sources. Also consider possible tax consequences for withdrawing money from plans too soon.

Estate planning also comes into play here. Starting your retirement planning early helps you take advantage of every available option. Strategies for reducing tax, protecting assets, and planning for disability can make the transition from work to retirement easier. Peace of mind is priceless.

Giving Up a Career

Many people get a great sense of purpose and fulfillment from their careers. It’s not uncommon for people to work their entire lives building their skill set and reputation. For some people, retirement is not an option because of the contentment and pleasure they get from pursuing their careers. Other people can’t wait to get away from the stresses of work, the office politics, and a boss who just doesn’t understand them.

Which person are you? It makes a huge difference in how you retire – or whether you retire.

If you are reluctant to give up your job, stop and consider why. If you are still physically able to work, keep on truckin’! But in the event you are running out of energy or having memory problems, give retirement some deep consideration.

Finding New Activities and Purpose

Bob Hope once quipped, “I don’t feel old. I don’t feel anything until noon. Then it’s time for my nap.”

As funny as Bob Hope was, retirement doesn’t have to be an endless succession of naps. When it comes time to give up your job or career, a vast amount of time suddenly opens up. The reluctant retiree can fill that time with activities ranging from traveling to mountain climbing to volunteering to just hanging out. Assess your activity level and then fulfill some lifelong dreams!

Ready to Talk About Retirement?

To discuss your concerns with a qualified Arizona estate planning lawyer, call us at (480) 418-8448 or check out one of our free seminars. [insert link]

Serving the greater Chandler area, including Ahwatukee, Gilbert, Sun Lakes, and Tempe.


Posted on: December 27th, 2017 by Sheryl Keeme   Retirement
"Without counsel plans fail, but with many advisers they succeed." Proverbs 15:22