👴👵 10 Steps to Build Your Retirement Plan (AARP Article)

[Anonymous]

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🗣By Donna Fuscaldo, AARP - December 09, 2022.

👉Link to article 

[nctarheel]

Some things in retirement come as a surprise.

I envisioned eating breakfast at home but continuing to eat lunch as I did when working(usually a plate lunch at a diner type restaurant). I am so busy during the middle of the day, lunch now can be anything and at any time. My wife and I tend to split a sandwich, hoagie, or snack during these times. The eating of breakfast every morning is something I didn't do when working, I have become a **bleep** good breakfast cook.

The other surprise is clothing. I really don't give a crap how I look, wardrobe-wise, so I have spent next to nothing in the 15 years I have been retired. I think the most money I have spent for clothing is when I have had to buy clothes to attend friend's funeral since my wardrobe is basically jeans, shorts, and Hawaiian shirts.

Anyway, in retirement, do what you are comfortable doing. That AARP article goes overboard in calling for planning for your retirement. I especially don't like other people telling ME what to do with my money.

[Tonster521]

@nctarheel Your paragraphs regarding cooking and clothes are true for many retirees. With regard to clothes, I still have suits and sport coats when the job required that style. Then, another set of clothes when business casual became the norm. And, for us folks, who still do physical work (handyman work, gardening, lawn, shrubs, trees, etc.) there are another set of work clothes that you can get dirty. All of the above plus three (3) seasons (warm, not so warm, and cold - Midwest 41 degree North Latitude), I do not need to buy any clothes unless I get invited to a tropical theme party and I need a Hawaiian shirt ( I don't have one).

At any rate, I try to read retirement planning articles whenever I come across one. Even though I worked with employee retirement benefits over 30 years, I do learn a thing or two from time to time. Tax and estate planning issues are needed by many. Also, when folks have not planned carefully for retirement, especially for a shortfall of retirement income, they need the proverbial "Plan B". In other words, they need to reduce discretionary spending (expenses); and, maybe some non-discretionary expenses (food, clothing, shelter, etc.) as well. Sometimes, new eyes can help us reduce spending as well as increase retirement income. Remember the expression that, I think, Ben Franklin said, " If you fail to plan, you are planning to fail". Or something similar.