Today’s Prep:
When it comes to retirement, where are you at? If you’re getting closer to retirement, it may help to understand your current mindset in order to know how best to proceed.
(Click the featured times below to jump forward in the episode)
Equipping Points:
Different people will have different mindsets as they approach retirement. What is your current mindset? Are there ways that it may benefit you to shift your mindset?
Do you have days you wish you could just say, “I’m outta here!” at work? If you’re close to retiring but feel like you’re not ready yet, run the numbers. Make a plan and find out, can you retire now? Understand just how long you have to hit your goals to put your retirement plan in action.
Is retirement a fuzzy idea but the numbers make very little sense to you? How much do you need to have set aside before you can finally retire? What does your plan say? How do you know what kind of income you’ll need in retirement?
Do you feel set on a number to save before retirement? A lot of people think they need to have $1 million set aside before retiring. Who is setting that number? Is that actually the right number for you?
Are you feeling hesitant to retire because it doesn’t sound like the lifestyle you want to live? Maybe you think it sounds boring and you prefer the routine of going to work every day. You may plan to work a long time, but what if you get forced out? Life might bring something unexpected, even though you think you want to work until 70. Ask questions like: what if you lost your job tomorrow? Or what if you retire in a year? Having a plan in place can bring you the peace of mind that you’ll be prepared for a variety of situations.
Listen to the entire podcast or click on the timestamps below to skip to a specific segment.
0:54 – How would you describe your mindset?
1:28 – Do you feel like retiring now but not sure if you’re ready?
3:22 – Do you wonder how much you need to save before retirement?
5:10 – Are you waiting until you hit $1 million before retirement?
7:15 – Do you think retirement sounds boring?
Today’s Takeaway:
“Even though you may plan to work for a long, long time–life can change that. Even your health can change that, too.“
-Eric Peterson
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