Chasing down retirement

The fundamental problem is that too many people have too much of their wealth tied up in houses that are too big. Everyone is house poor. They were sold a bill of goods that a house is a way to save.

It's true that working longer is one solution to strengthen a shaking retirement nest egg. But there are other things you can do to help you get to the retirement "finish line."

When thinking of retirement, many people envision the dream retirement currently being marketed by the media and organizations in the “retirement business”—mutual funds, insurance companies, real estate developers, and the like. We've all seen the ads with the slightly graying but still attractive couples on a yacht, the men wearing freshly pressed khaki pants, golf shirts, and no shoes; the women well-coiffed and dressed in cotton sundresses that scream leisure; the wind blowing lightly in their hair; their smiles wide and confident, as if they have a secret. The problem is that those people are millionaires and for most people, that type of retirement is an unaffordable dream.

That doesn't mean, however, that you can't have a successful retirement. It just means that you may have to rethink what retirement will be for you. Downsizing your lifestyle, moving to a community with a lower cost of living, or working part-time could make the difference between happy retirement and not retiring at all. The key to successful retirement may not be working longer but rather finding a realistic retirement lifestyle that fits your budget.

Jonathan Edelfelt
Author of Who Said You Need Millions? Retirement Strategies for the Rest of Us
www.WhoSaidYouNeedMillions.com

jdedelfelt wrote:

The key to successful retirement may not be working longer but rather finding a realistic retirement lifestyle that fits your budget.

You are absolutely right. Studies have shown again and again that having more STUFF does not make you any happier. Just ask my father who grew up with 11 siblings in a 3 bedroom house his father built himself on a farm. Now my father lives in a 5,000 sq. ft. house with my mother and he's no happier.