Page 85 - Workbook3E

Create your own retirement plan
Travel, Entertainment, Hobbies
Special discounts are often available for “senior citizens.” As you plan for your retirement, become aware of things like “two-for-one,” “off-season,” and “early-bird” pricing to make the most of your money.
Gifts and Contributions
Think now about your future plans for gift giving. Birthdays and holidays may cause hardships for retirees with large extended families and friends. You can
still give everyone thoughtful gifts, but maybe you’ll just need to get a bit be more creative. Giving of your time and yourself makes the most meaningful gifts i.e. stories you record on tape for a grandchild who lives away, or scrapbooks.
Other kinds of contributions, such as to charity or your church, may be part of your retirement plans. You may be able to devise ways to contribute time and personal service instead of giving money. Volunteer work is a very fulfilling way to contribute to a charity or cause, instead of money.
Family Assistance
You’ll may always be Mom, Dad, Brother, Sister, Grandma, or Grandpa. You can include plans to aid a child, grandchild, or other family member in time of need or in an emergency.
But, be realistic with yourself. Maybe you can’t buy all the presents you once did, or throw that big feast at Thanksgiving every year. That’s okay, retirement is your time to slow down and enjoy living. The gift of time can be very valued and won’t be such a hardship on your retirement funds.
Parental Care
Even after your own retirement, you may find you need to care for one or both of your parents, or your spouse’s parents. Be prepared for these situations, because they can create huge financial problems.
Consult with your parents’ doctors and other healthcare providers and make your decisions very carefully. Consider
the other people who might help share the work and finances, like brothers and sisters and community support.
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