According to an article in Yahoo Finance captioned “7 ways
to Retire happy” Mandi
Woodruff opined that In a new book, “You Can Retire
Sooner Than You Think,” Atlanta-based investment advisor Wes
Moss,
offers an alternative to the traditional line of thinking. Rather than focus on
a dollar amount to reach for, Moss decided to figure out what retirees needed
to be truly happy in retirement”
“I wanted to go beyond simple income numbers,” Moss says. “I wondered what it really takes to get somebody to a point where they truly feel they have a cushion and they are also enjoying life.”
“In 2012, Moss conducted an online survey of more than 1,200 workers who had either already retired or were fewer than 10 years away from retirement. He asked them questions about what type of cars they drove, where they shopped, how much their homes were worth, and, of course, how much they had saved for retirement. But he also asked about their passion projects, how often they went on vacation, what types of volunteering they enjoyed, whether or not they were satisfied with their lives, and how much time they put into their retirement planning before calling it quits. (Moss did not ask participants about overall debt levels like student loans and credit cards, but did include questions about their mortgage debt).
What he found was that more money doesn’t equate to more happiness. The happiest retirees didn’t all drive BMWs or take 12 European cruises a year, either.”
“I wanted to go beyond simple income numbers,” Moss says. “I wondered what it really takes to get somebody to a point where they truly feel they have a cushion and they are also enjoying life.”
“In 2012, Moss conducted an online survey of more than 1,200 workers who had either already retired or were fewer than 10 years away from retirement. He asked them questions about what type of cars they drove, where they shopped, how much their homes were worth, and, of course, how much they had saved for retirement. But he also asked about their passion projects, how often they went on vacation, what types of volunteering they enjoyed, whether or not they were satisfied with their lives, and how much time they put into their retirement planning before calling it quits. (Moss did not ask participants about overall debt levels like student loans and credit cards, but did include questions about their mortgage debt).
What he found was that more money doesn’t equate to more happiness. The happiest retirees didn’t all drive BMWs or take 12 European cruises a year, either.”
Of all retirement strategies, retirement
planning is often considered the best
and the most cumbersome and according to BBC capital, We all have
goals. Perhaps it’s to buy your first home. Or to travel the world. Or to leave
corporate life for your own company. Or to send a child to university abroad.
Some of these goals take decades of planning, but many can be managed within just five years. That’s right — with smart thinking and planning you can launch the next phase of your life in less than a decade.
Some of these goals take decades of planning, but many can be managed within just five years. That’s right — with smart thinking and planning you can launch the next phase of your life in less than a decade.
Why retirement planning is very technical, is that any phase that has
passed is irreversible and so staying motivated is the key to a safe retirement
planning, and as the millennial are better positioned for effective retirement
planning, the rest of us may not have such a privilege. It therefore behooves
on us to strategize and plan for our retirement right from the time, we
secured a job.
Planning when not put in place is often devastating and according Elizabeth Garone in an article
captioned “From doorman to boardroom”
she noted that “this should be a mandatory business skill — no matter
what the career stage. “When technology, economics, and politics change as
often as Facebook profiles, being president of a company or a country is a lot
like being a tour guide who doesn't know exactly where he’s going,” if planning is not followed and adhered to.
BBC capital rightly opined It’s never too late to start planning for the
next big adventure. Start now. In five years, you’ll thank us.
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