Most people choose to retire anywhere from 60 to 75 these days. Later retirement and semi-retirement is becoming more common for a variety of reasons, not all of which are financial. Everyone has their own version of retirement, and their own reasons for continuing or leaving work.

• You may love your work, feel great and want to keep working until that changes or you collapse “in harness.”
• Perhaps you haven’t really planned for retirement over the years and simply desire to join a spouse who has recently retired.
• Maybe you’re tired of the work world and want to pursue other aspirations.
• Or it could be that, finally, after raising a family and taking care of others for years, you’d like to take it easy in your later years.
• In some cases, health constraints may make retirement a necessity.

Whether you expect to retire early or plan work into your seventies and beyond, many factors will come into play when making the choice. And, regardless of your reasons for wanting to retire at any point, whether you can retire will depend on two simple facts:

1. How financially independent you are.
2. How long you can sustain yourself in retirement. (30 years, for example!)

In fact, when it comes to retirement, everything rests on one really big question:

WILL YOUR MONEY OUTLAST YOU OR WILL YOU OUTLAST YOUR MONEY?

As you consider your retirement options and put plans in place for your preferred retirement date and lifestyle, make sure you consider the following “what ifs.”

• What if you live for 40 years after retiring because your family is long-lived and you take good care of yourself
  • What financial plans should you put in place to deal with longevity?
• What if your retirement is cut short unexpectedly because the longevity gene missed you?
  • What plans might you put in place to protect loved ones in that event?
• What if there are unexpected health issues or long term care needs for you and/or a loved one during your retirement years?
  • How much would it cost now to protect against things like that?
  • How much would it cost later?
• What if you don’t plan – what are the potential costs and implications of doing nothing

In the words of Benjamin Franklin: “If you fail to plan, you are planning to fail!” The good news is, there are tried and true financial planning processes and many strategies, tools and products to help you create your own financial road-map to a successful retirement. Browse this website for more information or, better yet, reach out to a professional advisor. With a good financial advisor by your side serving as your personal financial GPS, you can PLAN to LIVE and RETIRE…comfortably!