👴👵Why It Might Be Time to Retire (AARP Article)

[Winter2025VA]

FROM THE ARTICLE: Is It Time to Retire These Retirement 'Rules'?

Why the conventional wisdom on saving, spending and Social Security isn’t always right.

By Martha C. White and Penelope Wang, AARP.

*** There is 1 Comment on the AARP website. Stop by to add yours. ***

Published March 17, 2025.

Planning for and living in retirement requires some daunting financial decisions. How do you create a steady stream of income? What’s the best way to split your portfolio between stocks and bonds? When should you start collecting Social Security?

Facing these complex choices, you may be tempted to rely on long-established rules of thumb, such as the 4 percent rule for retirement withdrawals or the 80 percent rule for replacing work income. Follow them, the conventional wisdom goes, and you put yourself in the best position to not outlive your money.

USE THE LINK BELOW TO READ THE ARTICLE: https://www.aarp.org/money/retirement/retiring-these-retirement-rules/

[Winter2025VA]

Personally I feel retirement can be "planned" up to a point.

The rest you have to "figure" out.

For example for me. COVID arriving in 2020 when I had "retired" and planned to move back to Florida from Virginia, got delayed.

Why?

The 2015 Florida prices (for everything) I left when I moved to Virginia went bye bye.

Now I will have to grin and bear this when I can NO longer drive = get near to my only child in Florida.

Until then, EVERY DAY, while missing my darling daughter big time - I keep an "eye" on Florida. At age 67 this year, I am healthy and see several years before my Medicare doctor or the State of Virginia takes away my keys.

Luv my mountains, spring and fall.  🙃

Take care,

Nicole  👵

[GailL1]

We all have to make decisions everyday that affect our lives.  But those decisions have to be weighted against our income/assets because decisions are fruitless if we don’t have a way to afford them.

Otherwise, we will be at the command of those who step in to help - the government or family member.  Like you said - take away the keys.

Nothing is gonna get less expensive from where we are today.  No place is probably gonna be less crowded either.  So is it better to wait until something happens and then any change has to be done perhaps on a moments notice or is it better to bit the bullet and change things now so that it can be planned as much as possible?  

Personally, they (whomever drops by or calls for a wellness check) can just pull my cold dead body from right where I am now.  That’s the plan anyway.

🤪

[Winter2025VA]

@GailL1 , I am keeping an "eye" on Florida for various reasons. As I AGE, I NO longer do well with relocations.

The LAST one in 2015 (followed my daughter to Virginia) was FUN and I was younger (NOT on medicare).

NOW I am "concerned" about what medical staffing is in Florida. The crime also concerns me.

But with my daughter HATING Virginia, it will be back there at some point.

I could use UBER here when I can NO longer drive, but so NOT into them. Use them when the other old lady (2006 Hyundai Elantra) is in the shop. And boy do I MISS her.

Anyway, also looking into WHAT I want in Florida as Virginia has "spoilt" me with being able to live ALONE. Cheaper in my location. NOT all of Virginia is cheap. Some areas are MORE EXPENSIVE than Florida.

Thanks for stopping by.

Take care,

Nicole  👵