What’s the Secret to Baby Boomer Retirement Worries?

If we knew the day we would die, planning for never outliving your money would be really easy.  But no fortune teller or palm reader can tell you that for sure.

The only way to guarantee you will have enough to last is to spend it like there’s no tomorrow.

OK, now I have your attention.

Really, the intent of the book, “How to Die Broke”, is to get people off the unrealistic expectation that they CAN plan to outlive their money.  To address that fear, will you horde it so that you can give some to your children at the expense of your own happiness?  Will you spend it so that you will only take enough income to meet your fixed living expenses, like food, utilities, taxes and car expenses?  Will you allow yourself any money to enjoy life, like to travel to those places you’ve always wanted to see?  Will you let yourself buy gifts for others to see their enjoyment while you are alive?

Let it be known, you are carrying into retirement either that belief in scarcity or the belief of abundance.  How you THINK about money is how much of it you will have.  I know, you are wondering what warped mind would tell you this when you are ready to write the exit letter to your boss and ride off into the sunset.

But remember, most financial planners earn their keep by projecting what your current assets will get you in retirement.  Why there are those that even pass out folded-up ribbons to let you know how far your assets will take you!  They all fail at one thing: no one but you can spend your money.  They can show you how much you can “safely” withdraw in order to keep the pot brewing, but they can’t actually write the checks or set up the bill pay to make those payments for you.

The secret to a successful retirement is to enjoy the time you have left on the planet and believe there will always be a source of income when you need it.  Bag ladies unite!

 

Photo Credit: Copyright All rights reserved by Becky Netley

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