As we get further into summer, I’ve had several friends tell me about their vacation plans. Listening to them, it’s clear they’ve put a lot of thought and effort into planning for their trip.
That got me thinking: what if people put as much time into planning their retirement as they do for their vacations?
Unfortunately, this isn’t usually the case. That’s a problem because the average vacation only lasts a few weeks. Retirement, on the other hand, can span decades.
I think one reason for this is because many people don’t know how to start planning for retirement … or they’re a bit intimidated by the thought of it. But planning isn’t what should intimidate anyone. Retiring without a plan is what’s really scary.
The good news, of course, is that we have already spent a lot of time and effort on your retirement plan. But it occurred to me that you may have family members who can’t say the same thing. Family members who are either behind on their retirement planning or haven’t even started yet.
Fortunately, it’s easy to get started—and some aspects of retirement planning are actually fun! When you get right down to it, all you really have to do is apply the principles of good vacation planning to your retirement. I’ll give an example. Before writing this letter, I looked at a number of different travel websites. Most of them gave tips on how to go on vacation. I was amazed at how similar these tips were to planning for retirement. So, I’ve listed some of them below, along with how to make them suitable for a person’s golden years:
Planning a vacation and planning for retirement aren’t exactly the same, but they’re not too far apart, either. In the end, what’s really important is that people devote the same energy to their retirement as they do their summer excursions. For both, the solution is the same: Plan ahead, don’t wing it.
If you have any family members who are “winging” their retirement planning, however, I’d like to offer my help. Of course, you might not think of anyone right now, but if a loved one ever expresses doubts or concerns about their retirement, please feel free to give them my name or even forward a copy of this message. I’d be happy to help them create a plan that shows not only how to fund their retirement, but enjoy their retirement, too!
Remember: planning a vacation is great for spending a few weeks in the sun. But planning for retirement can lead to a holiday that lasts for years.
As always, please don’t hesitate to reach out if you have any questions. My door is always open!