When it comes to retirement planning, some potential retirees make the process much more complicated than it really is.
This is primarily due to most financial planners putting all the emphasis on the monetary aspects of retirement... having enough money for retirement is certainly important, but sometimes money clouds our judgment.
Keeping the retirement planning process simple requires you to focus on relatively few items.
How important is it to you to retire? Do not delegate this question to anyone except you and your loved ones, you and they are the ones that are retiring not your retirement investment advisor.
It is surprising how many people make this more complicated than it should be... do you want to retire or do you want to keep on working.
The case for continuing to work is fine for a person that truly enjoys their work... it never seem to apply to me but I'm sure that there are people out there that love to work.
If you'd rather retire, congratulations, you've just taken the most important step... it gets easier from here.
What do you want to do when you retire? The person that says I just want to sit back and do nothing, is headed for some disappointments and probable health complications.
We all need goals and objectives even when retire, the difference is your retirement objectives and goals should be fun and something to look forward to.
Sit down and make a list, more on that in a bit, of the things that you would really like to do when you retire.
What do you never want to do again once you retire? Shoveling snow, mowing the lawn, paining the house, pulling up weeds... do you get the picture?
So make sure that you take into account the things that you never want to do again when you retire... you can add things like never wearing a tie again, keeping up with the Joneses, etc..
Here is a list of what I wanted to do and never wanted to do it again in 1989... you should be able to get some good ideas of the importance of making these lists.
For the most part, looking back to 23 years ago, I accomplished much more of what I set out to do than I did not.
I am 10 pounds over ,175, of my goal weight but still exercise several times a week and am physically able to do most of the hobbies I enjoy... such as playing golf.
The closest I came to learning a foreign language, was the purchase of Rosetta Stone Spanish software, I can order a beer and a meal, know how to get to the garbage and bathroom, but certainly do not consider myself a Spanish speaker.
Here is a few additions that I would make to my lists:
The minute you start thinking about retirement, and there no better time than right now, make the above lists...you will discover how simple retirement really is.