Preparing For Retirement Series - Part I

In an economy that is uncertain at best, it may seem a bit odd to be speaking of retirement... but with the baby boomers getting closer to their early to mid-60's, it is time to start the planning process! As a refresher, it might be a good idea to review the Blog I did on the Aging Population.

On our website, we have a page devoted to Preparing For Retirement (specifically, Five Retirement Questions Everyone Must Answer). Let's address the Grand Plan first. If you live a life 'living for today', you may easily have been caught with the credit crunch and rising debt. Job losses are rocking solid families and unemployment has exceeded 10%. Check out the Blog on the importance of the Unemployment Factor. The key focus when looking toward a time when life is easier and less stressful is in understanding what kind of life you aspire to and what the best approach is to get to that desired place.

With people living longer and maintaining a more active lifestyle for well into the later years, there are questions about full retirement or semi-retirement. As you consider the way you want to spend your days... traveling, favorite activities, hobbies, family and neighbors... you want to plan to be in the best location that enhances those dreams. This played a large part in our decision to move to the Tampa Bay area from Atlanta.
We chose Tampa Bay because of 1) The temperate climate to enjoy our outdoor hobbies such as tennis, fishing and sailing; 2) Having the Gulf of Mexico, Intercoastal and Bay offering water in every direction...something that is very soothing to us; and 3) Having access to Tampa, Clearwater and St Petersburg within minutes so there is always something to do and somewhere to be entertained; and 4) Most importantly... a dynamic location with a vibrant population offering employment opportunities that could ease over time into semi-retirement.

So what is your idyllic lifestyle for your 60's and beyond? Work on the plan now to start your preparation early.