Essay On Retirement Decision

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Retirement Decisions
Retirement Decisions –
Why, When, & How
Throughout our life we make many decisions that have an impact on our future. How much and what type of schooling/training we receive impacts the jobs for which we may be qualified. Our initial job and the industry it is in impacts our future employment prospects. Our decision to marry or not and to have children and if so how many, has an enormous impact on our lives in every imaginable way (and many we never could imagine). Each decision opens some opportunities but also closes off or makes other opportunities more difficult.

As we approach retirement the decisions we make help decide what options are available to us for our life after work. Is the cost of our desired lifestyle in retirement achievable being a major concern.

The first two questions the why
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While many positions do not allow for one to “phase out” from full time to part time to retirement, that path often leads to a more fulfilling life.

With life expectancy for the average 66 year old being 18 years and, and 16 years for the average 70 year old, you should plan to maintain your lifestyle for a longer period than most consider. If you are currently in good health and lead a healthy lifestyle, you of course stand a good chance of exceeding the average.

The “How” you retire and what lifestyle you hope to enjoy, depends on how well you have planned for your retirement. One of the biggest fears many retirees or near retirees have is “will I run out of money?” Benjamin Franklin has been quoted as saying “Failure to plan is planning to fail.” Some spend more time planning for a vacation than planning for a retirement that may last 20 to 30 years. As to when should we start planning for retirement, the answer is there is no better time than the

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