12 Ways to Retire on Less: Planning an Affordable Future
Learn how to save and prepare for retirement no matter your age or your income.
12 Ways to Retire on Lessoffers a roadmap for anyone seeking financial security and peace of mind for their retirement years ahead, regardless of savings or income in the present moment.
In a time when fewer retirees have the kind of pension many of their parents had, those looking to retire can be especially vulnerable. But here, the author outlines those steps people can take to ensure their security and enjoy those activities they look forward to in the future. Offering case studies and actionable steps in the form of bullet points, questions and lists, the book focuses on the importance of planning and analyzing one’s total financial picture in the context of goals, hopes, and dreams.
“A compelling read”
— Margaret Wylde, CEO, ProMatura Group, LLC
Wednesday, Nov. 3, 5:30-6:30 pm, Guest Speaker at Georgetown Village, virtual,
Wednesday, Oct. 5, Guest on Retire with Purpose Podcast with Casey Weade
Monday, Aug. 2, 2021, Retirement Wisdom Podcast
with executive coach/retirement coach Joe Casey,
Tuesday, July 20, 2021, 7 p.m., BOOK SIGNING
Friendship Village Center, Village of Friendship Heights, 4433 South Park Avenue, Chevy Chase, MD 20815 – (301) 656-2797
Thursday, July 22, 2021, 9 a.m. Podcast
Retirement Wisdom with Joe Casey
Thursday, June 10, 2021
Thursday 6/ 10 Your Retirement Dream: How Planning Can Make It Come True with Harriet Edleson, author and journalist. Retirement! Have you imagined you’d be lounging on a beach in the south of France or Bethany Beach? Riding a luxury train through the White Towns of Southern Spain? Cruising the Danube on a luxury riverboat? Or, taking courses with others like yourself? Serving on a nonprofit board? Buying a vacation home in the mountains? Spending more time with the ones you love? Relocating to be near your grandchildren? Whether you are already retired or thinking of retiring in the next five or 10 years, planning will make the journey more enjoyable and secure! What do you really want to do? Think about all the resources you have or will have at a time when you may no longer be working. Will you have a pension or will you be relying on Social Security and savings? Whatever your situation, the best way forward is knowledge. Learn about the optimal time for claiming your Social Security retirement benefits and how to decide whether downsizing is for you, since housing can be the largest expense in retirement. Harriet Edleson is an expert on baby boomer retirement strategies. She has written the Retiring feature for The New York Times and the Where We Live feature for The Washington Post. A former writer/editor/producer for AARP where she specialized in Social Security, she now writes for Kiplinger’s Retirement Report. Her forthcoming book, 12 Ways to Retire on Less: Planning an Affordable Future is to be published in May 2021 by Rowman & Littlefield next year. Visit her website at https://www.howtoretireonless.com.
Registration Link: www.littlefallsvillage.org/RetireOnLess
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Excerpt from CHAPTER THREE
Reframing Your Golden Years as an Adventure
What Do You Really Want to Do?
Satisfaction in retirement varies. A lot depends on your expectations: What did you anticipate retirement would be like, and what is the reality? It also depends on what life has been like before you make the transition into retirement.
If your expectations are unclear, you may find entering an unstructured period of your life unsettling, even disappointing. Often those who have worked intensely for 30 to 40 years look forward to a time when they can do whatever they want, whenever they want. Or they choose to spend more time with their grown children and grandchildren. Others prefer to work at their own pace, no longer commuting to an office each day. Some want to give back in one way or another such as through pro bono work or serving
on a board. Overall, the key to the next part of life is attitude. Health plays a big role too. There are many unknowns, so focus on the certainties. Unless you keep working or have significant resources, your options may be limited.
Be realistic, and you will be better able to plan and enjoy your life.
Find Your Purpose
To make the most of the years ahead, define your purpose. What will you do?
What will make your days meaningful? Enjoyable? The answers are different for everyone.
I spoke about setting expectations for retirement with Bob McDonald,
retired chair, president, and CEO of Procter & Gamble and former Secretary of Veterans Affairs. “The most important thing is knowing your purpose,” he told me. This means knowing where you are going rather than “meandering through life without direction.”1
McDonald is one of those fortunate individuals who knew from an early age what he wanted to accomplish. In sixth grade, he applied to West Point, the US military academy, and ultimately matriculated there when he was 18, in 1971, graduating in 1975. He was keenly aware that he wanted to “free people from communism” and believed by filing an early application to West Point he would increase his chances for acceptance to the elite academy.2
At age 67, as of this writing, McDonald says that, if anything, he is too
busy, even in retirement. He still maintains leadership roles in companies, serving on the board of directors of the Xerox Corporation, the McKinsey Advisory Council, and the Singapore International Advisory Council of the Economic Development Board.
Not everyone will accomplish what McDonald has in retirement, yet
each person can find meaning in their own endeavors. It may take some soul searching and self-evaluation to figure out what you like to do, what you have access to, and what your skills and talents are beyond working.
“You don’t have to set the world on fire,” McDonald says. “Don’t allow
other people to define your success for you.” Helping one other person in a day can represent success, McDonald says.3
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