When discussing someone’s retirement lifestyle it can be as broad as night and day. The range could be from conservative to aggressive. Another challenge is that I find as working adults we tend not to think about retirement and what that looks like for each of us. In my years as a gent helping adults with retirement planning, I found it amazing the look on my clients face when I ask one simple question, “What type of retirement lifestyle do you want?” Coincidentally I also found that I did not really think about that question even for myself. It was in that moment I realized that it was an important topic, because if I had not put any energy of effort into at least thinking about my retirement lifestyle how then could I plan for it?
How much money would I need? What amount of money will last me for at least 30 years in my retirement years?
How many people are saving for retirement?
Statistics tells us that 21% of Americans are not saving anything at all for retirement! And another 20% are only saving about 5% of their income when industry standard is 10-20%. (NBC Make IT https://cnb.cx/2RdsJ6i)
I have counseled clients that say they want to sell everything and buy an RV to travel the world, their were some clients who just wanted to stay at home and watch the popular shows Dr Phil, Oprah Winfrey, Price is Right and Family Feud, while planting a garden in the back yard. And there were also some clients that say I want to take several trips around the world which include taking the Grandchildren on Disney cruises.
Retirement planning begins with envisioning what your perfect retirement lifestyle would be daily, practice this technique perhaps every morning while getting ready for work or every evening before going to bed.
Dream Big and set your financial retirement goals around your DREAMS!
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