[FROM HANDOUT]
Often, the most common answer to retirement questions is "I
don't know. I can't read the future...I'll worry about
that down the road....somehow, it'll work out...maybe I'll
win the lottery...somebody will look after me...I've got
kids". Some us us in MABE are already nearing that
retirement stage of our lives, and are asking the question
that all of us needs to ask no matter what age we
are....will we be ready, financially and emotionally, to
handle the biggest change in our lives?
1. Please be honest and just give us the age at which you
plan to retire...just the age, unless you don't know.
Have you revised this "age to retire" over the years?
2. When did you first start planning on how you'd retire and
do you actually have a written Retirement Plan in progress,
or has it just been something in the back of your mind,
being put off?
3. Where are you planning to live when you retire, Phoenix,
or somewhere else?
4. Will it be a phasing in of retirement, or complete once
and for all retirement?
5. How do you plan to sell your business, or is your
business being re-positioned, threatened or outmoded, so
that you may not be able to sell it in order to retire?
6. Is selling your business your only plan in order to
retire?
7. How many of you plan to have your business eventually
taken over by your children, and if so, how does this give
you money to retire?
8. With a show of hands, how many have been paying into
Disability Insurance over the years, since we are more
likely to be disabled in our working years, than actually
die?
9. Is there any emotion or loss of identity when you sell
your business and retire?
10. What if we don't have enough money? Many retirees
are actually back working, usually at Fry's, Wal-Mart or
Walgreen's. How comfortable do we need to be?
11. Do you have many friends your age who have a plan to
retire, or is it always something "down the road" when I'm
older? It has a way of sneaking up on you.
12. Health issues can come along and change our plans for
retirement, as well as other family-related crises that can
deplete money from our retirement nest egg.
13. Are we all ready for the "what-if's" in our lives?
Are we feeling comfortable about ourselves? Are we
where we thought we would be at this stage of our lives, and
what are we prepared to do about it?
_______________________
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I've talked about it a few times with my
dad. Nothing started yet. I hope to retire
around 65 or 70.
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We did retire. We paid off our
debts. We had a good plan. But people plan
and God laughs. Life changes. Your spouse is
certainly a big issue. I will work until God calls
me. But my husband is frustrated.
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My job will force me to retire when my
body gives out. But I am working on something with
my sister. My wife is just starting her career.
I don't have a retirement date. I've started a
retirement plan 2 or 3 times but life changes the plans.
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I would like to retire around 62 and
then volunteer, keep myself busy.
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I don't see myself retiring. I
feel it is my responsibility to take my kids through
school. Once they are done, I will transition
myself into a new career.
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Retirement for me meant something
different than playing golf. I see it as a chance
to help other people. I look forward to that.
There are things in life that don't cost you money.
I don't know when that will be. It may be a
combination of work and retirement.
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Financially we were fortunate. We
were able to save a lot of money. But the big
difference is thinking about how you want to live your
life. We never know what the next hour will bring
us. Since Terry died my heart has not been
working. I had not thought much beyond the current
day. My lifestyle is changing. My health is
better and I am trying new things. An age in mind?
Tomorrow!
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My plan is distributed retirement.
As we go along continue doing what I am doing but also
spending time trying other things.
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I have three boys that owe me! I
was the one to ask Greg to talk about retirement.
Emotionally, how do you find retirement? I'm
struggling to define what retirement is for me. I
am thinking at 62 I will need to slow down my pace.
Maybe work 3 days a week and fill my time volunteering.
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October 13th, 2008 according to Gus'
plan for me. He even planned a divorce for me.
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70 is my number. Partial
retirement at 65.
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3 years, 8 months, 5 days. But I'm
not counting. .
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It wouldn't be before 68 or 70.
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99! My father told me yesterday he
wished he had never retired.
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I retired 9 years ago.
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I will retire in full by 72. I
work consistently about 60 hours a week. At 62 I
will cut back to a 45-hour work week. Between
65-72 I will scale back further.
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Sandro Menasci - 67-70.
Younger run sprints. Older run marathons.
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My view is different. I retired
when I was 27. I swore I would not work for anyone
else again. Life is not a rehearsal. Live
it!
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My wife is ready. It's nice to
have that carrot there. I have cut back quite a
bit. We could retire now or continue.
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I will retire from what I am doing in 3
years and start a new business.
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Andy told me 70.
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I am semi-retired now.
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I retired at 39. I decided to do
what I want to do.
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Never. I look at my father.
He sold his business 25 years ago and has dabbled ever
since.
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I see my parents, their work keeps them
going. I am wired the same way. no age
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No age. But I plan to phase back.
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No plan.
A few words from Gus Dekavallas...
In order to retire you have to be happy with yourself and
what you want to do.
Retirement doesn't mean playing golf. It means doing
what makes your happy. And you can make money doing
it.
Life is too short. You've got to live life.
Everyone's plan will be different. Talk to a
professional. There are several in this group.
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