Friday, October 14, 2011

Two Secrets for Retirement Success

Recently, I ran into the authors of a retirement strategy book, which I had not read.  So I asked him what were some secrets were for retirement success.  The author shared the following two points to consider.
  • Recognition of freedom.   In retirement, people have more freedom to choose what they would like to do with their time.  They are no longer restrained by the need to work for money.  Retirees can choose new careers, as the author did,  that are much different from their former jobs.  Or they can choose to do hobbies, volunteer work or many other choices.  Many retirees don't realize the level of freedom they have.

  • Live within means.  The author believed a common mistake was to create a lifestyle vision and then determine the financial requirement.   His recommendation is to understand one's financial situation and then develop a lifestyle consistent with the financial means.

  • I thought these were two excellent recommendations for retirement success.   In my case, I think both points are true.  Probably worth getting the book and learning about the other recommendations for retirement success that the author makes.
    For more on  Reaping the Rewards, check back every Friday for a new segment.

    This is not financial  or retirement advice. Please consult a professional advisor.

     Copyright © 2011 Achievement Catalyst, LLC

    1 comment:

    Financial Independence said...

    I disagree with the last statement.

    One might fantasize about living within means, but I think the more reliable solution is to have your per-retirement income.
    If one think that he can live within mean - s/he should try it and prove it for at least couple of years prior retirement.