Advice IQ: Setting Realistic Retirement Goals
I am always reading about how much money we will need to retire to a lifestyle that we would like. Like most people we want to retire to Oprah and Bill Gates pre retirement lifestyle, but we are realistic. Six years ago I officially retired in May and went back to work full-time that August. It was planned.
I knew it was time to leave a career that had been good to me. I had a retirement account with them plus I was investing in another. How long will I work full-time or even part-time is a question that I have not really thought about.
I think I am realistic about retirement as it is now. I am still working on an individual retirement plan and was too excited to know that I will get Social Security–they say enough to get my nails done!
Trying to keep debt at bay is a constant work in progress. The new car bug hits me sometimes. I’ve had my car, Big White for 11 years and I am hoping for a few more, but every once in a while I think about how pretty her new sister will look. Then I come back to reality and car note. When the time comes to part ways with her I will purchase another SUV, probably a pre owned one.
Have I saved enough and invested enough? That’s the magic question. It all depends on a lot of things. Take a look at the link below written by Wes Moss in the USA Today. He will help you understand what a realistic retirement might look like.
Remember “thisisyourbestyear” live, save for retirement and keep living.
You can follow Wes Moss on Twitter @WesMoss365.