1-minute video: When is the Best Time to Retire?

Please enjoy this 1-minute video (for those receiving this by email: please click on the blog title line above to view).

Imagine what it is like flying to the moon. The moon is right there, you just fly to it! Right?

Except, where the moon is now, is NOT where it will be when you get there. You have to lead it. There’s a dynamic effect to retirement planning when you do “lead it.” You’ve moved the goal posts a little as you begin to focus on retirement planning.

If you’re not yet retired, you’re interested in saving for that day you can retire. But, most people are not sure how much they need to save. Your evaluation begins with seeing how much you’re living on now. There’s a much more direct and easy way to figure that out instead of the fashioned, and I believe “get lost in the weeds” budgeting approach of old. You can simply take out your bank statements to see what your lifestyle is, what I call your Standard of Individual Living (SOIL) that is unique to you (and not some generic rule of thumb applications).

This can then lead to developing a Retirement Feasibility Timeline to get a better idea that answers “when” can you retire.

But, just like a moon shot TO the moon, you’re of course interested in GETTING BACK too! In retirement planning, it is not enough to get TO retirement, you also need to get THROUGH retirement!

One of the questions related to getting through retirement, is longevity. However, the paradigm of trying to determine some “older age” you may live too, the more pragmatic approach is to recognize that there is always statistical years ahead of you as long as you’re alive! It’s like a bow wave in front of a boat. The boat never catches the bow wave, until the boat stops (or reaches shore – the end of the period life tables). So, what do I mean? I mean using a reasonable table defined age, and then update that table defined age, as you age. Using this approach, you may spend a little more money while you’re alive, while still reserving money for the rest of the “table statistical years.”

Retired, or still working, you also need to always keep you eyes on the Insidious Impact of Lifestyle Creep.


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