Financial advisors go on and on about the “retirement crisis” facing millions of Baby Boomers. They quote the statistics from study after report after study that all reflect the poor saving habits of an entire generation.
They then tell us that too many Baby Boomers are expecting Social Security to fund their entire retirement when SSA says the program is designed to provide only 40% of retirement income.
Therefore they conclude that those nearing retirement age must work longer–much longer–than expected. Lifestyles should be cut to the bone to free up more money for retirement savings.
And then comes the kicker–after doing all that sacrificing, brace yourself for a meager retirement with the few years you have left. Years when you may be too old, too tired, and maybe too sick to enjoy them.
All of this gloom and doom fails to recognize that
Your life is NOT a spreadsheet!
What about the joy? Is there a calculation for spending precious time with your grandchildren? Experiencing parts of the world you’ve always dreamed of? Finally getting to do what you want to do with your life?
Sure, you’ve made mistakes. You woulda/shoulda/coulda saved more. But for whatever reason you didn’t.
No sense beating yourself up about it. You can’t go back and change anything. It’s done. All that matters now is:
What are you going to do about it NOW?
You can follow the well-meaning advice of those financial advisors. Nose to the grindstone for another decade or so. No more fun because you need to save, save, save. So that maybe for those few final years you can languish in your disappointing retirement world.
But you’re not going to do that for three reasons. One, because you’re ready to quit working right now. Two, because whatever your intentions, it’s doubtful you’re going to suddenly and radically change your behavior after 30 or 40 plus years. And three, because the experts’ plan is an unrealistic solution that’s more about a spreadsheet than you having an acceptable retirement.
That leaves only one option:
Think of something else.
When faced with a similar retirement crisis we solved our problem by moving abroad to a lower cost of living and so much more. Now our financial worries have disappeared. We enjoy a happy, healthy, stress free lifestyle. And if we did it, so can you.
Maybe you feel like living in another country isn’t in the cards for you. Fair enough. It’s not for everybody.
Just remember, your life is much more than numbers on a page. And if your retirement future looks shaky it’s up to you to do something about it now. So we’re left with one big unanswered question:
What’s your plan?
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