Are you getting close to retirement or actually living it right now? Will you be able to live the lifestyle you want in retirement? Have you saved enough money to get there? Are you prepared for Retirement A-Z? Here’s our comprehensive guide to preparing for and living in retirement.
It’s no wonder as people start to get close to retirement, the fog sets in…
I’m talking about the financial fog.
Imagine a thick fog in your mind as you start thinking about the transition from working into retirement.
You feel confused about whether or not you’re ready to stop working. You’re anxious that you may have made a mistake somewhere along the line with your saving or investing and you’re not sure if you put enough away for the future.
Don’t worry, you’re not the only one that feels this way.
Many people don’t have to imagine it because the financial fog is real. The transition from working to retirement could be one of the most stressful changes you’ll go through in your entire life.
The Retirement Cliff
The reason why transitioning into retirement can be so stressful has to do with psychologically letting go of getting a paycheck from that point moving forward, and instead, living off of your income sources.
As you approach retirement, you approach what I call “The Retirement Cliff.” This is the point in life where many people switch from earning money to spending money. This is the time when you’re guaranteed paycheck gets replaced by some kind of pension (if you’re lucky) or your Social Security benefits.
But here’s the problem, your pension and your Social Security may not be enough money for you to get by on. You may have to dip into your savings.
If there was ever a time that you needed to have a plan for your money, now is that time- but it can be difficult to decide where to start planning when you’re approaching the Retirement Cliff.
Here are some common questions that most soon to be retired people and newly retired people ask me, so these are the questions that Retirement A-Z was created to help you start answering for yourself. Just tell us what questions you have to see our best tips and ideas for success in Retirement A-Z
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