Getting ready for retirement and our years in retirement, which thanks to longer lifespans, now account for a lot of years and work best with important planning. Here's a look at of the typical journey.

Fantasy- The 15 years before retirement people begin to fantasize about what they'll do - on not do - in retirement. This group have high expectations but according to studies, less than half in this age group believe they are saving enough.

Excitement- 5 years before retirement there is a growing excitement. In surveys, people have what I would consider, unrealistic expectations about how great retirement will be. As one researcher put it, "Boy, when I get out of work, I'm going to be soooo happy!"

The Big Day - The next 2 - 15 years is a readjustment of your previous expectations. Optimism drops from 80% to less than 65%. 25% of retirees are totally confused about their role in life.

Peace- comes about 15 years into retirement. It could come way earlier than that for others. (Your emotional readiness and preparation plays an important role in your contentment.)

Later Years- Three times as many retirees worry about paying for health care as worry about dying. Plan with that concern in mind.


Marion R. Syversen, MBA - President
NorumbegaFinancial
207.862.2952
Marion@NorumbegaFinancial.com
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