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Old 08-06-2008, 12:19 PM
  #10  
Led Zep
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Joined APC: Feb 2007
Posts: 440
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Just my thoughts:

I'm still a couple of decades away from retirement (unless they raise retirement age again ), but I began thinking and planning for it a few years ago. My thoughts on the subject:

First, try to live below your means and carry minimal or zero debt throughout your life. If your means are too low, try and find a way to increase them.

Second, if you purchased a house try and have it paid for well before retirement. Also, if your house is affordable and fits your NEEDS, I would advise keeping it. Regardless, you do not want a mortgage payment when your retirement income begins rolling in.

Third, for planning purposes, do NOT plan on a pension or social security. Pay the money for a good financial planner and have him help you plan for your retirement. On paper, plan on being able to retire 5 years early. That way, if you decide to continue working the decision as to when to retire is solely up to you.

Finally, who says you have to stop working once you are retired? Find something fun to do because you want to do it as opposed to because you have to do it.
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