October’s Money Magazine– Retirement Issue

October’s issue of Money magazine is all about retirement.  None of it applied to me.  It was very frustrating to read.  I don’t think we’ll be renewing our subscription next year.  While I appreciate  that the subscription was $2 for a year of issues, there haven’t been too many really insightful articles in 12 months.  This edition was no exception.  Plus, it’s always available at two local libraries and our local bookstore! 

I think the most frustrating part of retirement is trying to plan for something that is so many years away for DH and I.  Then, trying to plan for how long it will last…30 years, 50 years… trying to plan for some appropriate amount of money for retirement when you don’t know how much things will cost, whether we’ll move to universal insurance, whether we’ll be sick and need additional medical care.  I’ve always believed in planning for the downside.  But, this downside, is almost too disheartening to plan for.

Then I think how much more frustrating planning for a near retirement in this economy will be.  I become grateful that we’re not anywhere near retirement age when I consider that.  It’s ridiculous to imagine that so many things that seemed sure and certain are now so uncertain.  How do you plan for retirement when everything can go according to plan for 40 years and then, in a matter of months, everything can change?  How can you accumulate enough to cover that downside?  Will this happen to us 40 years from now?

In unrelated retirement news, DH and I have discussed whether or not to stay here and buy a home recently.  The house we were most interested in last week (the only house we have found that we were interested in after looking for almost 5 full months) was pulled off the market because the newly retired owner had a change of heart, overnight.  That’s all the details I’ll give, but both realtors (his and ours) said they’ve never seen this excuse in over 20 years of combined realty experience.  I’d prayed for wisdom to make the right choice. 

This was the best possible deal around.  I won’t buy just to buy.  It would have to be a really good deal to get as centrally located as we already are.  We have 3 solid reasons for staying here and within 5 years, those 3 goals will have been achieved if we don’t lose focus.  Originally, we felt that within 10 years we could max out our retirement goals and that we would move then.  But WE DON’T LIKE THIS CITY.  We’d like a new area.  This doesn’t mean we’re up and out of here in a year.  The soonest we could achieve the goals we have set for ourselves is 3 years.  We would be under a lot of pressure to find a place to move and achieve these goals in that timeframe.  So, we’ve redefined our goals and we are going to aim for 4 more years!

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One thought on “October’s Money Magazine– Retirement Issue

  1. Holly says:

    I too find it frustrating to plan for retirement. The daily financial news doesn’t make the prospect of long term investing sound too appealing. My goal is to meet with a financial planner to set up a Roth IRA by the end of the year, but we’ll see how that goes.

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