Hello,

New to these forums, though have read and enjoyed J.D.'s blog for years. At 55 years, I decided after 2 years of job searching and watching my "manageable" tiny home depreciate at a frightening speed, I would venture out of my comfort zone. I gave away most of my possessions, gifted financially needy family members with funds from the house sale and made a cross-country move for a job that did not materialize. Now in Seattle, gainfully employed and thankful how things sorted out. My current job is highly stressful, yet I can also appreciate many of the benefits and life lessons it presents - particularly at this stage of life.

I've joined these forums in hopes of realigning my current perspective and learn better boundaries. I rent an apartment, paid cash for the truck, have a (probably-way-too-small-for-my-age) retirement fund, emergency cash fund, a cache from the house sale and no debt. If a credit card is used, it is paid off within a few days.

My financial challenges increase when my "enabler" button gets pushed by a financially desperate person, and when considering how to invest the retirement fund and cache. While I anticipate the (physical) ability to work for another 10-15 years, I believe there is a need to get my retirement plan in order. Just not sure how to proceed, what to trust.

Thanks for these forums!
Jean

Welcome Jean. My wife has an enabler button bigger than yours I'm sure. She can't say no to anyone. I, on the other hand, have no problem saying no. "No!" is a complete sentence.


My advice is to have a set of goals for yourself. Only you can determine what you are comfortable with. You'll get some good advice on this forum..maybe even so much that it's overwhelming...but in the end you have final say on what needs to be done to achieve the retirement you want.

Hi Jean!

I stumbled upon your post and I just wanted to give you some quick tips that I'm sure you can use for planning out your retirement. I actually have a blog entry on this that you may want to check out. (its over at http://www.fifteenyearplan.com/easy-bud ... -retirees/)

Now, let me go ahead and give you little tips snippets.

1. Learn how much you will need to retire comfortably and set that as your goal.

2. Build a budget that focuses on your retirement.

3. Consider the option of working for a bit longer.

4. Have a good insurance policy.

5. Do not gamble on bigger risks. (You should not gamble. You are getting older and you may not be able to bounce back like you would’ve in your 20’s.)

6. Finish off paying your debts ASAP.

7. Consider moving to a smaller residence now. (Which you've already done, as you mentioned)

8. Delay cashing in your Social Security check as it will only grow bigger.

9. Prioritize you and your spouse's retirement above all others. (After all, your children will have a whole lot of time to save for themselves. You, however, do not.)



I really hope this will be helpful stuff for you.

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Adam Randall

Fifteenyearplan.com - My personal finance blog dedicated to helping people take control of their finances.