Do The Emotional Math When Planning for Retirement

Talk to any knowledgeable financial advisor and they’ll be able to run all sorts of calculations and predict your retirement date and the amount you’ll have saved, right down to the penny.

At least it looks that way. In fact, they can’t take into account many variables — especially the emotional factors that are so important to a happy retirement. To come up with the best retirement plan, you’ll have to look at the numbers as well as do the emotional math when planning for retirement.

Do the emotional math when planning for retirement.

Do the emotional math when planning for retirement

There are many emotional factors that can come into play as you plan your retirement:

  1. Evaluate your health, not just your medical coverage.
  2. Consider whether you actually want to be retired. After a full career, many people find that quitting work leaves them without a clear direction of what they really want to do.
  3. Understand that it’s impossible to be certain about how everything will work out.
  4. Be able to deal with spending less money than you might prefer.
  5. Be flexible with your final retirement date.
  6. Remember the other people involved with your retirement decision.

It’s easy to buy into the conventional vision of retirement — whatever that may be — but it’s more important to decide what you what and how you want to achieve it for a happy and fulfilling retirement. In addition to running the numbers, be sure to also do the emotional math when planning for retirement.

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