Page 54 - Workbook3E

Working until further notice
Since their savings and Social Security wouldn’t support them—let alone their dreams—Dave and Marie would have to continue working for several more years. Even if during the last few years they saved most of their money, it might be difficult
to ever retire comfortably. Especially since they would’ve lost the benefit of putting
the power of interest to work for them over many years. The moral of the story is... Start Planning Now!
Seize the Opportunity
Luckily for Dave and Marie, they learned
to master their finances early enough to
live out their dreams. They embraced the
opportunity to get out of debt and put
interest to work for them. At the age of 50, Marie started a small bakery, and sold pies and pastries part-time. Dave opened a guided fishing business, and consulted on the side when it was convenient for him. They had a great time traveling together and getting to know their grandkids.
Live Your Dreams
If you want a successful retirement, you’ve got to plan. In Workbook 1 you identified you and or your family’s wants and needs, and then developed the plans to achieve them. You must do the same for your future retirement needs. As you gain new knowledge and experience, you must continually review and revise your plans.
As you make your plans, consider your past—learning from mistakes and taking notes. You’ll come to know yourself better—in the present. You’ll also come to know what kind of person you want to be in the future—
during your retirement. Once you understand the “job” at hand, you can make smarter decisions in selecting your tools.
The First Step
As you begin to take charge of your future,
your attitude toward retirement becomes more positive. This Workbook helps you to realize the most important issues in your planning. You’ll evaluate your present lifestyle and your goals for the future.
“If there is only one goal for a woman or a man in retirement, it is having the freedom to make choices without having one’s finances or health constrain those choices.”
~ Helen Dennis, Andrus Gerontology Center
50 Workbook 3: Prepare for the Future