Retirement Jitters

I planned somewhat for retirement but not enthusiastically. I did retire at age 68, partly to allow my partner to take over. My wife, who worked only part-time retired at 62. Our social security varied as expected. My father really never fully retired because he spent ten years doing interim work almost to his last days. His father never knew little about modern retirement. Today, retirement is not something new for youngsters with retirement age beckoning but for some it has its jitters.

Today, while reading a possible Senior Moment: 'Retirement' flashed through my mind that it could belong because not only Seniors but others do have Senior Moments about retirement among a number subjects we write about. Although this will not be comprehensive, it might provoke a thought or two.

1. When do you really want to retire? Age 62, 65, 70, 80? Earlier? Never? Later?
   
   
2. Where do you want to live? At home, Down South, Out West, Up North, In a City, On a Farm, In a Suburb, Unsure? Near(er) to the Kids, Depends . . ?
   
   
3. What will you live on? Investments, Savings, Social Security, Pension, Part time job, Salary, Inheritance, IRA, 403 (abc), Spouse, Gambling, Good Luck, Parents, Children, In-laws?
   
   
4. What will you do in your free time? Loaf? Sit on our porch and watch the cars go by, Read, Write or Draw? Invest, Balance the budget, Play games, Socialize, Volunteer, Travel? Fish?
   Now what?
   
   Add your #5, 6, 7 . . .? Locate an adviser? Back to school? Estimate various options: Live as when employed, Live wiser and better, Read about retirement Jitters? Good idea. Studies are available: Can I live on less than when employed? More? Some guessed 70-80% but few studied it. Another study revealed some retirees underestimated their costs which were much higher than they supposed. Others totally discounted retirement homes until they were stricken (or their spouse) with a serious illness while others said when they finally decided that they waited too long.

When I finished a tenure and moved back home, I was offered a job in a Retirement Home. My response was What, me work with all those old people! I had to eat those words. When I retired, I would tag along grocery shopping with my wife, tuck something I liked into the cart until she banned me and my taste buds. Retirement actually is impossible to fully fathom in advance but is well worth the effort and its heebie-jeebies.