Friday, October 15, 2010
Thinking About Financial Retirement
Here I am, with a blog about retirement. I brazenly announce that it’s not just about the money. That’s partly because finances are my weakest area of retirement knowledge.
But recently I came across a research article, which discusses a retirement process model. It focuses on financial issues and was published just this year.
The statements below are listed under four categories each of which has between fifteen and eighteen statements. I have choosen two from each one. Read the following and see how you respond to the statements.
1) Retirement Representations
a. I often compare my current financial position with the financial position I would like to have in retirement.
b. I often talk to my family about financial issues for retired people
2) Retirement Goals
a. I have specific goals regarding the financial position I want in retirement
b. I have specific goals regarding the future roles I would like to hold as a retiree
3) The decision to prepare for retirement
a. I’d rather deal with my financial issues closer to retirement rather than making financial decisions now.
b. I know that people in my age group are making financial preparations for retirement
4) Preparing for retirement
a. If I was forced to retire today I would have enough money to cope well with retirement.
b. By the time I retire I will own a house without a mortgage.
What stage of planning for retirement are you at?